How fast can the Sukhoi Su-30 fighter jet really fly?

Did China ask its people 'not to respond to aliens'? Origin of bizarre claim on social media

MS Dhoni-CSK Fallout? Report claims failed stake sale talks triggered rift

Scientists reveal the SAFEST COUNTRY when catastrophe strikes the planet

Serial killer on the loose in South Korea's Jeju Island? Fourth body found in three days as more than a dozen people go missing

2/3rd of glacier detached, collapsed: ISRO satellite images reveal what triggered Nepal floods

Trump once again claims without him there would be ‘no Israel right now’

Foreign espionage attacks against German companies surge to 37%, Bitkom report reveals

Blake Lively wins partial legal fee from Justin Baldoni after $8M request

Why is Pakistan deploying Turkish Bayraktar TB2 drones near India border?

'OH MY GOD! We've found other agents!': Investigators discover not one or two, almost 700 OpenAI AI agents went rogue, hacked Hugging Face

Lunar eclipse 2026: India timings, places to see and more. August Blood moon factsheet

RSS chief Mohan Bhagwat on global outreach tour 

Both pilots killed as training aircraft crashes in Lucknow – What we know

16-year-old charged with preparing terror attack on kindergarten in Norway

How the S-400 protects itself from enemy attacks

Nepal floods: Over 165 dead, 400 missing; US, India, China, World Bank mobilise aid

India's multi-layered watch: The new surveillance war

5 doomsday planes spotted in US skies hours after CIA director's secret trip to Russia

9/11 mastermind Khalid Sheikh Mohammed to finally face trial in 2028, nearly 27 years after horrific attacks

Islamabad hospital fire: What we know about one of the biggest facility that housed Imran Khan

Workers run for life while filming Nepal flash flood: Scary new visuals emerge from Rasuwa

Russian military planes enter South Korean air defence zone amid rising tensions with North Korea: What's happening

Ron Weasley Is Back! Rupert Grint set to return to Harry Potter universe on Broadway

400-year-old 'vampire' grave in Poland reveals non-existent genetic lineage

Dolly Parton, global icon and queen of country music, dies at 80

Nepal flash floods: Kailash Mansarovar yatra affected, close to 400 pilgrims out of contact

'If he is dead, they're putting on a pretty good show': Trump casts fresh doubt over Mojtaba Khamenei's fate

Man arrested near US Capitol with guillotine in pickup truck: What happened?

Why the Su-30MKI cockpit is painted bright turquoise green

<p>The dollar is heading for its strongest monthly performance since October 2024, driven by the Middle East conflicts, which have disrupted energy markets, unsettled economic outlooks, and pushed investors towards the leading reserve currency of the world. The US position as the top global oil producer has further strengthened the dollar amid a rise in energy prices and weakening global growth expectations.</p><p>&nbsp;</p><p>“The dollar rallied as a safe haven bid on weakening global growth expectations,” said Noah Buffam, strategist at CIBC Capital Markets, Bloomberg reported. Since the disruption to global energy markets, investors have favoured the dollar, particularly the closure of the Strait of Hormuz, which highlighted the dependence on oil and natural gas imports of Europe and Japan.</p><h3>Forecasts of the US currency</h3><p>Traders, positioned for dollar weakness before the war, quickly reversed course. They now hold over $7 billion in bullish bets in the derivatives market, marking the highest since December. Some Wall Street banks that include JPMorgan Chase &amp; Co. and Goldman Sachs Group Inc., which had a small view of the dollar heading into the year, are now reconsidering their stance on the US currency. However, volatility in global risk sentiment and news headlines continues to complicate forecasts exceedingly.</p><p>&nbsp;</p><p>Amid speculations of the Federal Reserve cutting interest rates this year has now foundered as updated inflationary fears drive traders to reconsider. Additionally, the risk of a rising dollar dominates the outlook into year-end in the options market.</p><p><br>“The dollar’s haven virtues have revived since the start of the Iran war as it quickly became clear this wasn’t a local conflict with fading FX impact. Dollar bulls can lean on elevated risk aversion, though the price action has underwhelmed so far, which is consistent with our view that the US’ unpredictable geopolitical stance boosts the case for diversification strategies," Bloomberg Intelligence confirmed.</p><p>&nbsp;</p><p><strong>Also read:</strong> <a href="https://www.wionews.com/world/as-us-iran-war-escalates-red-sea-cable-threat-raises-fear-of-internet-disruption-in-india-1774877905277">As US-Iran war escalates, Red Sea cable threat raises fear of internet disruption in India</a></p>

Some Wall Street banks, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., which had a small view of the dollar heading into the year, are now reconsidering their stance on the US currency. 

The dollar is heading for its strongest monthly performance since October 2024, driven by the Middle East conflicts, which have disrupted energy markets, unsettled economic outlooks, and pushed investors towards the leading reserve currency of the world. The US position as the top global oil producer has further strengthened the dollar amid a rise in energy prices and weakening global growth expectations. “The dollar rallied as a safe haven bid on weakening global growth expectations,” said Noah Buffam, strategist at CIBC Capital Markets, Bloomberg reported. Since the disruption to global energy markets, investors have favoured the dollar, particularly the closure of the Strait of Hormuz, which highlighted the dependence on oil and natural gas imports of Europe and Japan. Forecasts of the US currency Traders, positioned for dollar weakness before the war, quickly reversed course. They now hold over $7 billion in bullish bets in the derivatives market, marking the highest since December. Some Wall Street banks that include JPMorgan Chase & Co. and Goldman Sachs Group Inc., which had a small view of the dollar heading into the year, are now reconsidering their stance on the US currency. However, volatility in global risk sentiment and news headlines continues to complicate forecasts exceedingly. Amid speculations of the Federal Reserve cutting interest rates this year has now foundered as updated inflationary fears drive traders to reconsider. Additionally, the risk of a rising dollar dominates the outlook into year-end in the options market. “The dollar’s haven virtues have revived since the start of the Iran war as it quickly became clear this wasn’t a local conflict with fading FX impact. Dollar bulls can lean on elevated risk aversion, though the price action has underwhelmed so far, which is consistent with our view that the US’ unpredictable geopolitical stance boosts the case for diversification strategies," Bloomberg Intelligence confirmed. Also read: As US-Iran war escalates, Red Sea cable threat raises fear of internet disruption in India

<p>Some Wall Street banks, including JPMorgan Chase &amp; Co. and Goldman Sachs Group Inc., which had a small view of the dollar heading into the year, are now reconsidering their stance on the US currency.&nbsp;</p>

Dollar climbs to strongest month since October 2024 as West Asia war shakes global markets

<p>An attack on a desalination plant in Iran, and the US President Donald Trump's threats and Iranian counterthreats, are increasing the risk that water-purifying facilities could be sitting ducks in the ongoing war. For nearly a century, desalination plants, which make the salty water in the region drinkable, have been the lifeline of the Gulf region. Any attack on them would render millions of people without water. Several desalination plants are operated by European and Asian companies, once again giving a global dimension to the Iran-US-Israel war. Here is what you should know about the consequences of a water war:</p><h2>Desalination is a lifeline for millions of people across the Gulf region</h2><p>In a region where natural freshwater is virtually non-existent due to an arid climate, minimal rainfall and depleted aquifers, desalination is the lifeline of the Gulf region.</p><p>In the UAE, nearly 42 per cent of drinking water comes through desalination plants , and up to 90 per cent in some emirates. The percentage is around 70 per cent in Saudi Arabia. For Qatar, it is 99 per cent of municipal and drinking water. For Kuwait, it is 90 per cent and for Oman, 86 per cent.</p><h2>Desalination plants also support industry and agriculture</h2><p>The GCC member countries produce nearly 40 per cent of the world’s desalinated water.</p><p>Without desalination plants, major cities like Dubai, Riyadh, Doha, Kuwait City, Muscat and Basra wouldn't be able to sustain current populations.</p><p>The daily per capita demand of up to 500 litres of water relies on desalinated seawater.</p><p>Amid population booms and climate change, dependence on desalination has increased for industry, agriculture and for holy sites like Hajj in Saudi Arabia.</p><p>Also read: <a href="https://www.wionews.com/photos/-water-war-trump-threatens-to-blow-up-iran-s-desalination-plants-how-could-retaliation-leave-gulf-cities-thirsty-1774938407674">'Water war': Trump threatens to blow up Iran’s desalination plants. How could retaliation leave Gulf cities thirsty?</a></p><h2>Sitting ducks: Attacks on desalination plants can lead to a humanitarian catastrophe</h2><p>Most desalination plants in the region are highly visible and large, located along coasts.&nbsp;</p><p>Many are located directly across the Gulf from Iran, within easy range of its missiles and drones.</p><p>In spite of their importance, which everyone knows, careless threats are being made against desalination plants by both sides in the Iran war.&nbsp;</p><p>A disruption would cause an immediate humanitarian catastrophe, including dehydration and halted services.</p><p>The long-term consequences could include economic collapse and potential mass displacement.</p><p>More than 90 per cent of Gulf desalinated water comes from just 56 large plants. A single-point failure could cut supply to millions within days.</p><p>Also read: <a href="https://www.wionews.com/world/indian-national-dies-in-iranian-attack-on-kuwait-power-plant-india-government-mea-embassy-response-1774828034256">Kuwait confirms death of Indian national in 'Iranian attack' on power, desalination plant; MEA yet to respond</a></p><h2>Desalination plant attacks are not new, but are rising</h2><p>Already, several Iranian and Gulf desalination plants have faced direct or indirect strikes. Iran has accused the US of hitting a Qeshm Island plant along the Strait of Hormuz, disrupting water supplies for 30 villages.</p><p>Bahrain reported an Iranian drone damaging one of its plants, while at least one person died in a similar attack in Kuwait.</p><p>Damage was reported at the UAE’s Fujairah F1 and Kuwait’s Doha West from missiles, drones or debris. Iran has explicitly threatened “irreversible destruction” of Gulf water infrastructure in retaliation for any further strikes on its energy or water systems by adversaries.</p><p>This is not the first time. In the 1991 Gulf War, Iraq damaged Kuwait’s desalination plants. Houthi rebels of Yemen have targeted desalination plants of adversaries in the recent past.</p><p><a href="https://www.wionews.com/videos/us-iran-war-iranian-drone-damages-desalination-plant-in-bahrain-1773007153294/embed">https://www.wionews.com/videos/us-iran-war-iranian-drone-damages-desalination-plant-in-bahrain-1773007153294/embed</a></p><h2>The global angle: Dozens of desalination plants are maanged or operated by foreign firms</h2><p>While up to 80 to 90 per cent of overall Gulf desalination infrastructure is state-owned or operated, dozens of desalination plants in the region have foreign co-ownership or are operated by foreign firms.</p><p>Leading players include ENGIE from France, which operates 13 plants across the region with 5.8 million m³/day total output.&nbsp;</p><p>Spain's Acciona/GS Inima operates and manages multiple plants in the UAE and Saudi Arabia.</p><p>Veolia from France, Mitsubishi and JERA from Japan, and PowerChina are also among the companies operating in the region.</p>

Callous threats by both the US and Iran are putting Gulf desalination plants at risk. Attacks on these plants, deliberate or accidental, could cut water supplies for millions. A humanitarian crisis in the short run, and economic collapse in the long term, could be the results

An attack on a desalination plant in Iran, and the US President Donald Trump's threats and Iranian counterthreats, are increasing the risk that water-purifying facilities could be sitting ducks in the ongoing war. For nearly a century, desalination plants, which make the salty water in the region drinkable, have been the lifeline of the Gulf region. Any attack on them would render millions of people without water. Several desalination plants are operated by European and Asian companies, once again giving a global dimension to the Iran-US-Israel war. Here is what you should know about the consequences of a water war: Desalination is a lifeline for millions of people across the Gulf region In a region where natural freshwater is virtually non-existent due to an arid climate, minimal rainfall and depleted aquifers, desalination is the lifeline of the Gulf region. In the UAE, nearly 42 per cent of drinking water comes through desalination plants , and up to 90 per cent in some emirates. The percentage is around 70 per cent in Saudi Arabia. For Qatar, it is 99 per cent of municipal and drinking water. For Kuwait, it is 90 per cent and for Oman, 86 per cent. Desalination plants also support industry and agriculture The GCC member countries produce nearly 40 per cent of the world’s desalinated water. Without desalination plants, major cities like Dubai, Riyadh, Doha, Kuwait City, Muscat and Basra wouldn't be able to sustain current populations. The daily per capita demand of up to 500 litres of water relies on desalinated seawater. Amid population booms and climate change, dependence on desalination has increased for industry, agriculture and for holy sites like Hajj in Saudi Arabia. Also read: 'Water war': Trump threatens to blow up Iran’s desalination plants. How could retaliation leave Gulf cities thirsty? Sitting ducks: Attacks on desalination plants can lead to a humanitarian catastrophe Most desalination plants in the region are highly visible and large, located along coasts. Many are located directly across the Gulf from Iran, within easy range of its missiles and drones. In spite of their importance, which everyone knows, careless threats are being made against desalination plants by both sides in the Iran war. A disruption would cause an immediate humanitarian catastrophe, including dehydration and halted services. The long-term consequences could include economic collapse and potential mass displacement. More than 90 per cent of Gulf desalinated water comes from just 56 large plants. A single-point failure could cut supply to millions within days. Also read: Kuwait confirms death of Indian national in 'Iranian attack' on power, desalination plant; MEA yet to respond Desalination plant attacks are not new, but are rising Already, several Iranian and Gulf desalination plants have faced direct or indirect strikes. Iran has accused the US of hitting a Qeshm Island plant along the Strait of Hormuz, disrupting water supplies for 30 villages. Bahrain reported an Iranian drone damaging one of its plants, while at least one person died in a similar attack in Kuwait. Damage was reported at the UAE’s Fujairah F1 and Kuwait’s Doha West from missiles, drones or debris. Iran has explicitly threatened “irreversible destruction” of Gulf water infrastructure in retaliation for any further strikes on its energy or water systems by adversaries. This is not the first time. In the 1991 Gulf War, Iraq damaged Kuwait’s desalination plants. Houthi rebels of Yemen have targeted desalination plants of adversaries in the recent past. https://www.wionews.com/videos/us-iran-war-iranian-drone-damages-desalination-plant-in-bahrain-1773007153294/embed The global angle: Dozens of desalination plants are maanged or operated by foreign firms While up to 80 to 90 per cent of overall Gulf desalination infrastructure is state-owned or operated, dozens of desalination plants in the region have foreign co-ownership or are operated by foreign firms. Leading players include ENGIE from France, which operates 13 plants across the region with 5.8 million m³/day total output. Spain's Acciona/GS Inima operates and manages multiple plants in the UAE and Saudi Arabia. Veolia from France, Mitsubishi and JERA from Japan, and PowerChina are also among the companies operating in the region.

<p>Callous threats by both the US and Iran are putting Gulf desalination plants at risk. Attacks on these plants, deliberate or accidental, could cut water supplies for millions. A humanitarian crisis in the short run, and economic collapse in the long term, could be the results</p>

Playing with fire, this time over water: Desalination, the lifeline of Gulf, could be Iran war targets if better sense does not prevail

<p>As FY26 ends, the ‘fasten seatbelt’ sign is still on for India’s aviation sector. Starting with the Pahalgam attack, Operation Sindoor in April 2025, to the West Asia conflict in March 2026, the sector was marred with multiple internal and external shocks. Rating agency ICRA had earlier projected that the industry would undergo a loss of Rs 17,000 to Rs 18,000 crore or about $2.16 billion. Here’s a look at key events that shaped the turbulent fiscal year 2025-2026 for the aviation industry</p><h2><strong>April 2025: Pahalgam attack&nbsp;</strong></h2><p>It was a shaky take-off for Indian airlines in the financial year 26. It started with the Pahalgam terror attack in Jammu and Kashmir. Travel agencies indicated nearly 90 percent bookings for Jammu and Kashmir were cancelled by tourists over safety concerns. Following the attack, airlines like Air India and IndiGo waived off cancellation and rescheduling fees. Special flights from Srinagar to several destinations were also added.&nbsp;</p><h2><strong>May 2025: Operation Sindoor</strong></h2><p>India’s military strike against terror camps in Pakistan followed in May 2025. At least 32 airports in northern India were shut. Major carriers, including IndiGo, Air India, SpiceJet, and Akasa Air, suspended services in the region. It was an unplanned closure, leading to widespread flight cancellations and re-routings.&nbsp;</p><h2><strong>June 2025: Air India Ahmedabad crash</strong></h2><p>Come June 2025, an Air India plane bound for London crashed in Ahmedabad, minutes after taking off. All but one of the 242 people on board were killed, while 19 others on the ground also perished. Air India cancelled 83 flights in the week following the crash. Affected routes included Delhi-Dubai, Delhi-Paris, and Ahmedabad-London. The Directorate General of Civil Aviation (DGCA) ordered strict inspections of Air India’s Boeing 787-8 fleet. Operations were severely impacted by both maintenance checks and the unavailability of aircraft, leading to passenger inconvenience and delays. Air India began a partial resumption of services from August 1, with plans to fully restore operations by October 1.&nbsp;</p><p><strong>Also Read: </strong><a href="https://www.wionews.com/india-news/fpi-outflows-india-march-2026-market-impact-rupee-oil-1774861514706"><strong>Foreign investors fleeing Indian market, dump $12 bn Indian equities amid Iran war</strong></a></p><h2><strong>November 2025: Full implementation of FDTL norms&nbsp;</strong></h2><p>Stricter flight duty time limitations or FDTL norms kicked in. Announced in January 2025 that year, the norms were implemented in phases starting from July 1. Full implementation in November, led to a shortage of pilots and cabin crew in December. The norms reduced flying hours and increased rest times.</p><h2><strong>December 2025: IndiGo flight disruptions&nbsp;</strong></h2><p>Citing the revised norms, IndiGo&nbsp;experienced massive and sustained flight disruptions. The airline cancelled thousands of flights between December 3 and 10. There was severe chaos at major airports like Bengaluru and Delhi. Daily cancellations peaked above 1,000 at one point. Over 16.2 lakh domestic passengers were affected. Nearly 9.8 lakh people faced cancellations, and 6.4 lakh experienced long delays. This forced the airline to offer compensation vouchers of Rs 10,000 to severely impacted passengers, in addition to statutory compensation. The DGCA penalised IndiGo&nbsp;more than Rs 22 crore for direct failures and continued non-compliance.&nbsp;</p><p>&nbsp;</p><h2><strong>December 2025: Windows outage&nbsp;</strong></h2><p>The implementation of stricter pilot duty rules collided with a global Windows outage and chronic supply chain delays that left 130 aircraft grounded. The result? Indigo’s third-quarter profits plummeted by 78 per cent, and the government was forced to step in with emergency 'reboot' exemptions. One-time temporary exemption from FDTL norms was granted to IndiGo&nbsp;following the disruption. Three months after the crisis, Indigo’s CEO Pieter Elbers quit with immediate effect. Earlier in Feb 2026, IndiGo&nbsp;announced it had decided to comply with the revised norms.</p><h2><strong>Feb-March 2026: West Asia war</strong></h2><p>Come February 28, 2026, U.S. and Israel forces struck Iran. Aviation schedules the world over were shaken. Flight operations into and out of the Gulf have been disrupted. By March 9, the 'war premium' hit home, as fuel charges were slapped onto every ticket. A spike in global crude prices, closure of busy aviation hubs, and sweeping airspace restrictions across West Asia collectively landed a heavy blow to the airline industry.&nbsp;</p><h2><strong>Aviation sector losses to top Rs 18,000 cr, says expert</strong></h2><p>Kinjal Shah, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Limited, said multiple factors drove losses for the industry during the fiscal year. One is airspace closures; 15-20 per cent of Indian international flights to West Asia are facing airspace closure, she explained.&nbsp;&nbsp;</p><p>The second reason is the re-routing of long-haul flights, which led to additional fuel burn.&nbsp;</p><p>Another factor is the depreciation of the Indian rupee against the U.S. dollar. This is because roughly 35-50 per cent of the cost of airlines is denominated in dollars. Shah added that it is likely that aviation turbine fuel (ATF) prices from April will see a sharp increase. For FY26, the impact would largely stem from reduced international passenger traffic and rupee depreciation, she said.&nbsp;While ICRA has not revised its forecast of a Rs 17,000 crore to Rs 18,000 crore loss for the industry for FY26, Shah said the agency expects a downward bias.</p><h2><strong>Triple threat for India’s aviation sector</strong></h2><p>The 'triple threat' of the June tragedy, the December operational chaos, and now the near $100-per-barrel oil reality has been devastating for India’s aviation sector. With the Strait of Hormuz blocked, ATF prices didn't just rise—they doubled. Air India's London flights were forced into 12-hour detours, while Indigo's leased Norse aircraft were barred from Gulf airspace entirely. Against this backdrop, airlines are no longer just chasing growth; they’re fighting for stability after a turbulent year. With IndiGo’s stock down over 15% since February 28, Air India facing massive losses, and fuel costs pushing ticket prices higher, the road ahead for FY27 remains anything but certain.</p>

India’s aviation sector may post ₹18,000 crore loss in FY26 after terror attacks, crashes, pilot shortages and West Asia war disruptions.

As FY26 ends, the ‘fasten seatbelt’ sign is still on for India’s aviation sector. Starting with the Pahalgam attack, Operation Sindoor in April 2025, to the West Asia conflict in March 2026, the sector was marred with multiple internal and external shocks. Rating agency ICRA had earlier projected that the industry would undergo a loss of Rs 17,000 to Rs 18,000 crore or about $2.16 billion. Here’s a look at key events that shaped the turbulent fiscal year 2025-2026 for the aviation industry April 2025: Pahalgam attack It was a shaky take-off for Indian airlines in the financial year 26. It started with the Pahalgam terror attack in Jammu and Kashmir. Travel agencies indicated nearly 90 percent bookings for Jammu and Kashmir were cancelled by tourists over safety concerns. Following the attack, airlines like Air India and IndiGo waived off cancellation and rescheduling fees. Special flights from Srinagar to several destinations were also added. May 2025: Operation Sindoor India’s military strike against terror camps in Pakistan followed in May 2025. At least 32 airports in northern India were shut. Major carriers, including IndiGo, Air India, SpiceJet, and Akasa Air, suspended services in the region. It was an unplanned closure, leading to widespread flight cancellations and re-routings. June 2025: Air India Ahmedabad crash Come June 2025, an Air India plane bound for London crashed in Ahmedabad, minutes after taking off. All but one of the 242 people on board were killed, while 19 others on the ground also perished. Air India cancelled 83 flights in the week following the crash. Affected routes included Delhi-Dubai, Delhi-Paris, and Ahmedabad-London. The Directorate General of Civil Aviation (DGCA) ordered strict inspections of Air India’s Boeing 787-8 fleet. Operations were severely impacted by both maintenance checks and the unavailability of aircraft, leading to passenger inconvenience and delays. Air India began a partial resumption of services from August 1, with plans to fully restore operations by October 1. Also Read: Foreign investors fleeing Indian market, dump $12 bn Indian equities amid Iran war November 2025: Full implementation of FDTL norms Stricter flight duty time limitations or FDTL norms kicked in. Announced in January 2025 that year, the norms were implemented in phases starting from July 1. Full implementation in November, led to a shortage of pilots and cabin crew in December. The norms reduced flying hours and increased rest times. December 2025: IndiGo flight disruptions Citing the revised norms, IndiGo experienced massive and sustained flight disruptions. The airline cancelled thousands of flights between December 3 and 10. There was severe chaos at major airports like Bengaluru and Delhi. Daily cancellations peaked above 1,000 at one point. Over 16.2 lakh domestic passengers were affected. Nearly 9.8 lakh people faced cancellations, and 6.4 lakh experienced long delays. This forced the airline to offer compensation vouchers of Rs 10,000 to severely impacted passengers, in addition to statutory compensation. The DGCA penalised IndiGo more than Rs 22 crore for direct failures and continued non-compliance. December 2025: Windows outage The implementation of stricter pilot duty rules collided with a global Windows outage and chronic supply chain delays that left 130 aircraft grounded. The result? Indigo’s third-quarter profits plummeted by 78 per cent, and the government was forced to step in with emergency 'reboot' exemptions. One-time temporary exemption from FDTL norms was granted to IndiGo following the disruption. Three months after the crisis, Indigo’s CEO Pieter Elbers quit with immediate effect. Earlier in Feb 2026, IndiGo announced it had decided to comply with the revised norms. Feb-March 2026: West Asia war Come February 28, 2026, U.S. and Israel forces struck Iran. Aviation schedules the world over were shaken. Flight operations into and out of the Gulf have been disrupted. By March 9, the 'war premium' hit home, as fuel charges were slapped onto every ticket. A spike in global crude prices, closure of busy aviation hubs, and sweeping airspace restrictions across West Asia collectively landed a heavy blow to the airline industry. Aviation sector losses to top Rs 18,000 cr, says expert Kinjal Shah, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Limited, said multiple factors drove losses for the industry during the fiscal year. One is airspace closures; 15-20 per cent of Indian international flights to West Asia are facing airspace closure, she explained. The second reason is the re-routing of long-haul flights, which led to additional fuel burn. Another factor is the depreciation of the Indian rupee against the U.S. dollar. This is because roughly 35-50 per cent of the cost of airlines is denominated in dollars. Shah added that it is likely that aviation turbine fuel (ATF) prices from April will see a sharp increase. For FY26, the impact would largely stem from reduced international passenger traffic and rupee depreciation, she said. While ICRA has not revised its forecast of a Rs 17,000 crore to Rs 18,000 crore loss for the industry for FY26, Shah said the agency expects a downward bias. Triple threat for India’s aviation sector The 'triple threat' of the June tragedy, the December operational chaos, and now the near $100-per-barrel oil reality has been devastating for India’s aviation sector. With the Strait of Hormuz blocked, ATF prices didn't just rise—they doubled. Air India's London flights were forced into 12-hour detours, while Indigo's leased Norse aircraft were barred from Gulf airspace entirely. Against this backdrop, airlines are no longer just chasing growth; they’re fighting for stability after a turbulent year. With IndiGo’s stock down over 15% since February 28, Air India facing massive losses, and fuel costs pushing ticket prices higher, the road ahead for FY27 remains anything but certain.

<p>India’s aviation sector may post ₹18,000 crore loss in FY26 after terror attacks, crashes, pilot shortages and West Asia war disruptions.</p>

Operation Sindoor to West Asia war: India’s aviation sector sees turbulent FY26

<p>Nearly 70 per cent of Australian under-16s who had social media accounts before a landmark law banned it are still accessing them. The government is probing Meta, TikTok, Google, Snap and other tech firms over alleged failures to enforce the ban. The probe covers platforms like Instagram, Facebook, Snapchat, TikTok and YouTube.</p><h2>Australia's stringent law banning social media for teens</h2><p>The Online Safety Amendment (Social Media Minimum Age) Act, in force since December, designates Facebook, Instagram, Snapchat, TikTok, YouTube, Reddit and several other platforms as “age-restricted”, requiring them to prevent under-16s from holding accounts. Penalties of up to A$49.5 million, or US$33.9 million, could be imposed on companies for non-compliance.</p><p>Under the law, the entire onus is on the platforms, as there is no penalty for children or parents if under-16s try to access social media using circumventions such as VPNs.</p><p>Also read: <a href="https://www.wionews.com/world/in-a-global-first-australia-s-under-16-social-media-ban-takes-effect-1765286627973">In a global first, Australia’s under-16 social media ban takes effect</a></p><h2>Law enforcement is lax, reveals survey</h2><p>However, the new eSafety Compliance Report and Survey, based on compulsory information from platforms and interviews with nearly 900 parents, found that implementation is far from perfect.</p><p>In the survey, 31 per cent of parents said their children still had at least one social media account after the ban. Among children who previously used Instagram, Snapchat or TikTok, about 70 per cent retained access. Platform-specific data showed similar trends, with 63.6 per cent of children keeping Facebook accounts, 69.1 per cent on Instagram, 69.4 per cent on Snapchat, 69.3 per cent on TikTok, and 48.5 per cent on YouTube.</p><p><a href="https://www.wionews.com/videos/australia-bans-under-16-social-media-accounts-millions-removed-within-days-1768537233396/embed">https://www.wionews.com/videos/australia-bans-under-16-social-media-accounts-millions-removed-within-days-1768537233396/embed</a></p><h2>Tech firms doing bare minimum, says minister</h2><p>Australia’s communications minister, Anika Wells, said the companies were doing “the absolute bare minimum”, adding that “none of this is even difficult for big tech, who are innovative billion-dollar companies”.</p><p>Calling the update unacceptable, she said firms must comply: “If these companies want to do business in Australia, they must obey Australian laws.”</p><p>Also read: <a href="https://www.wionews.com/world/australia-bans-under-16s-from-social-media-but-youtube-warns-it-could-make-them-less-safe-wion-explains-1764746581502">Australia bans under-16s from social media, but YouTube warns it could make them less safe. Here's how</a></p><h2>Australia's eSafety Commission blames weak enforcement</h2><p>The eSafety Commission of Australia said overall account ownership declined, but a substantial proportion of children under 16 retained social media accounts, attributing this partly to weak enforcement systems. “The most common reason children still had their social media accounts was that they had not yet been asked by the platform to verify their age,” it said.</p><p>Some platforms allow repeated age-verification attempts and encourage underage users to try verification despite declaring an age below 16.</p><h2>‘Deliberate resistance’</h2><p>Technologies such as facial age estimation were deemed unreliable, especially near the age threshold, with concerns that some 14- and 15-year-olds could be classified as over 16.</p><p>Wells argued such shortcomings reflected deliberate resistance, with companies attempting to “throw doubt on any regulation”.</p><h2>Meta says age verification is tough</h2><p>For its part, Meta said age verification is an industry-wide challenge, citing “natural error margins” at the 16-year limit. It instead advocated stronger controls at the level of app stores and operating systems, including parental approvals.</p><p>According to the government, 4.7 million social media accounts were removed or restricted shortly after the ban. However, ongoing access by minors has raised doubts about the policy’s effectiveness.</p>

Australia is probing Meta, TikTok, Google and others as most under-16s retain social media access despite a ban. Weak enforcement and ineffective age verification systems threaten to defeat implementation of the landmark law, in effect since December

Nearly 70 per cent of Australian under-16s who had social media accounts before a landmark law banned it are still accessing them. The government is probing Meta, TikTok, Google, Snap and other tech firms over alleged failures to enforce the ban. The probe covers platforms like Instagram, Facebook, Snapchat, TikTok and YouTube. Australia's stringent law banning social media for teens The Online Safety Amendment (Social Media Minimum Age) Act, in force since December, designates Facebook, Instagram, Snapchat, TikTok, YouTube, Reddit and several other platforms as “age-restricted”, requiring them to prevent under-16s from holding accounts. Penalties of up to A$49.5 million, or US$33.9 million, could be imposed on companies for non-compliance. Under the law, the entire onus is on the platforms, as there is no penalty for children or parents if under-16s try to access social media using circumventions such as VPNs. Also read: In a global first, Australia’s under-16 social media ban takes effect Law enforcement is lax, reveals survey However, the new eSafety Compliance Report and Survey, based on compulsory information from platforms and interviews with nearly 900 parents, found that implementation is far from perfect. In the survey, 31 per cent of parents said their children still had at least one social media account after the ban. Among children who previously used Instagram, Snapchat or TikTok, about 70 per cent retained access. Platform-specific data showed similar trends, with 63.6 per cent of children keeping Facebook accounts, 69.1 per cent on Instagram, 69.4 per cent on Snapchat, 69.3 per cent on TikTok, and 48.5 per cent on YouTube. https://www.wionews.com/videos/australia-bans-under-16-social-media-accounts-millions-removed-within-days-1768537233396/embed Tech firms doing bare minimum, says minister Australia’s communications minister, Anika Wells, said the companies were doing “the absolute bare minimum”, adding that “none of this is even difficult for big tech, who are innovative billion-dollar companies”. Calling the update unacceptable, she said firms must comply: “If these companies want to do business in Australia, they must obey Australian laws.” Also read: Australia bans under-16s from social media, but YouTube warns it could make them less safe. Here's how Australia's eSafety Commission blames weak enforcement The eSafety Commission of Australia said overall account ownership declined, but a substantial proportion of children under 16 retained social media accounts, attributing this partly to weak enforcement systems. “The most common reason children still had their social media accounts was that they had not yet been asked by the platform to verify their age,” it said. Some platforms allow repeated age-verification attempts and encourage underage users to try verification despite declaring an age below 16. ‘Deliberate resistance’ Technologies such as facial age estimation were deemed unreliable, especially near the age threshold, with concerns that some 14- and 15-year-olds could be classified as over 16. Wells argued such shortcomings reflected deliberate resistance, with companies attempting to “throw doubt on any regulation”. Meta says age verification is tough For its part, Meta said age verification is an industry-wide challenge, citing “natural error margins” at the 16-year limit. It instead advocated stronger controls at the level of app stores and operating systems, including parental approvals. According to the government, 4.7 million social media accounts were removed or restricted shortly after the ban. However, ongoing access by minors has raised doubts about the policy’s effectiveness.

<p>Australia is probing Meta, TikTok, Google and others as most under-16s retain social media access despite a ban. Weak enforcement and ineffective age verification systems threaten to defeat implementation of the landmark law, in effect since December</p>

Is Australia's teen social media ban failing? Meta, TikTok, Google, Snap, others face probe as access continues for most under-16s

<p>The Iran war is hitting the US where it hurts most: its own economy. In recent days, American markets have wiped out more than a trillion dollars in value, with indices hitting eight-month lows between March 26 and 30. Here are five key indicators showing that President Donald Trump’s Middle East outing is proving costly for American consumers and corporations, causing oil-price-driven inflation and a financial market rout.</p><h2>$1.2 trillion wiped off markets in a single day</h2><p>According to compiled data, at least $1.2 trillion was wiped off US markets in a single day. The S&amp;P 500 fell by 1.66 per cent, erasing around $1 trillion, while the Nasdaq dropped 2.09 per cent, losing about $600 billion, and the Dow fell by 1.2 per cent, shedding $300 billion. Late March is seeing some of the heaviest sell-off days.</p><p>Also read: <a href="https://www.wionews.com/world/gulf-tensions-explode-as-iran-hits-sets-ablaze-kuwaiti-oil-tanker-al-salmi-near-dubai-amid-war-with-us-and-israel-1774936019011">Gulf tensions explode as Iran hits, sets ablaze Kuwaiti oil tanker Al-Salmi near Dubai | Watch video</a></p><h2>US recession looming, according to prediction markets; corporate profits hit</h2><p>On the prediction website Polymarket, the odds favour a 37 per cent chance of a US recession by the end of 2026. This reflects crowd-sourced sentiment on war-driven risks to the American economy and businesses.</p><p>Corporate profits are being affected, and these costs are being passed on to consumers, leading to inflation as well as delays in investment and hiring. These factors are pushing recession odds to 37 per cent.</p><p>This represents real wealth destruction for 401(k)s, pensions and businesses. The financial conditions of both consumers and businesses are worsening faster than any Federal Reserve move could offset.</p><p>Also read: <a href="https://www.wionews.com/world/trump-willing-to-end-iran-war-without-reopening-strait-of-hormuz-1774923738453">Trump willing to end Iran war without reopening Strait of Hormuz: New report makes EXPLOSIVE claims</a></p><h2>US oil prices up by more than $50 a barrel</h2><p>The pressure of the war is slowly showing up at the pump. WTI crude was trading near $57 per barrel in late December. Now it is flirting with $106 a barrel, a surge of around $50. Brent crude is similarly between $100 and $110, marking one of the sharpest monthly price spikes on record.</p><p>The national average gasoline price is up 30 per cent in March, reaching $4 per gallon. Prices of diesel, jet fuel, and petrochemicals are also rising.</p><p>Supply-side shocks are occurring due to threats to the Strait of Hormuz, Iranian production and infrastructure risks, and its retaliatory targeting of Gulf energy infrastructure. Despite the US being a net oil exporter, oil prices represent a far greater cost of the war for it, outpacing its military spending. This is because the country still imports refined products and faces global pricing.&nbsp;</p><p><a href="https://www.wionews.com/videos/us-iran-war-rubio-says-talks-with-iran-ongoing-vows-hormuz-will-open-one-way-or-another-wion-1774942167548/embed">https://www.wionews.com/videos/us-iran-war-rubio-says-talks-with-iran-ongoing-vows-hormuz-will-open-one-way-or-another-wion-1774942167548/embed</a></p><h2>No cash for discretionary spending: US consumer economy takes a hit</h2><p>Consumer spending accounts for nearly 70 per cent of US GDP. Higher energy costs are hitting household spending, particularly on discretionary items such as travel and shopping, as disposable incomes are squeezed.</p><p>Demand is softening, with economists at Goldman Sachs and elsewhere raising 2026 inflation forecasts while trimming growth outlooks.</p><h2>Business margins are getting crushed</h2><p>Sectors linked to energy supply—such as transport, manufacturing, agriculture, and retail—are facing higher input and logistics costs.</p><p>In essence, this resembles the classic oil shocks of the 1970s.</p><p>This may become a key reason why Trump would want to end the war quickly, allowing oil flows to normalise through diplomacy or de-escalation.</p>

The Iran war is battering the US economy, wiping out $1.2 trillion in market value in a single day. The oil price shocks are increasingly looking like the 1970s. Inflation is creeping in,  and recession risks are looming

The Iran war is hitting the US where it hurts most: its own economy. In recent days, American markets have wiped out more than a trillion dollars in value, with indices hitting eight-month lows between March 26 and 30. Here are five key indicators showing that President Donald Trump’s Middle East outing is proving costly for American consumers and corporations, causing oil-price-driven inflation and a financial market rout. $1.2 trillion wiped off markets in a single day According to compiled data, at least $1.2 trillion was wiped off US markets in a single day. The S&P 500 fell by 1.66 per cent, erasing around $1 trillion, while the Nasdaq dropped 2.09 per cent, losing about $600 billion, and the Dow fell by 1.2 per cent, shedding $300 billion. Late March is seeing some of the heaviest sell-off days. Also read: Gulf tensions explode as Iran hits, sets ablaze Kuwaiti oil tanker Al-Salmi near Dubai | Watch video US recession looming, according to prediction markets; corporate profits hit On the prediction website Polymarket, the odds favour a 37 per cent chance of a US recession by the end of 2026. This reflects crowd-sourced sentiment on war-driven risks to the American economy and businesses. Corporate profits are being affected, and these costs are being passed on to consumers, leading to inflation as well as delays in investment and hiring. These factors are pushing recession odds to 37 per cent. This represents real wealth destruction for 401(k)s, pensions and businesses. The financial conditions of both consumers and businesses are worsening faster than any Federal Reserve move could offset. Also read: Trump willing to end Iran war without reopening Strait of Hormuz: New report makes EXPLOSIVE claims US oil prices up by more than $50 a barrel The pressure of the war is slowly showing up at the pump. WTI crude was trading near $57 per barrel in late December. Now it is flirting with $106 a barrel, a surge of around $50. Brent crude is similarly between $100 and $110, marking one of the sharpest monthly price spikes on record. The national average gasoline price is up 30 per cent in March, reaching $4 per gallon. Prices of diesel, jet fuel, and petrochemicals are also rising. Supply-side shocks are occurring due to threats to the Strait of Hormuz, Iranian production and infrastructure risks, and its retaliatory targeting of Gulf energy infrastructure. Despite the US being a net oil exporter, oil prices represent a far greater cost of the war for it, outpacing its military spending. This is because the country still imports refined products and faces global pricing. https://www.wionews.com/videos/us-iran-war-rubio-says-talks-with-iran-ongoing-vows-hormuz-will-open-one-way-or-another-wion-1774942167548/embed No cash for discretionary spending: US consumer economy takes a hit Consumer spending accounts for nearly 70 per cent of US GDP. Higher energy costs are hitting household spending, particularly on discretionary items such as travel and shopping, as disposable incomes are squeezed. Demand is softening, with economists at Goldman Sachs and elsewhere raising 2026 inflation forecasts while trimming growth outlooks. Business margins are getting crushed Sectors linked to energy supply—such as transport, manufacturing, agriculture, and retail—are facing higher input and logistics costs. In essence, this resembles the classic oil shocks of the 1970s. This may become a key reason why Trump would want to end the war quickly, allowing oil flows to normalise through diplomacy or de-escalation.

<p>The Iran war is battering the US economy, wiping out $1.2 trillion in market value in a single day. The oil price shocks are increasingly looking like the 1970s. Inflation is creeping in, &nbsp;and recession risks are looming</p>

$1.2 trillion erased in a single day, US recession looming – 5 ways the Iran war is hitting America where it hurts most: its own economy

<p>Iran struck and set ablaze a fully loaded Kuwaiti crude tanker near Dubai on Monday (Mar 30) in what may be one of the most serious maritime attacks since the US-Israel war against Iran began on February 28. The vessel, the Al-Salmi, transiting the waters under a Kuwait flag, was hit while anchored in Dubai's port area. The attack may have resulted in an "oil spill in the surrounding waters," warned Kuwait Petroleum Corp (KPC) in a statement. Here's all we know.</p><h2><strong>Iran attacks fully loaded oil tanker near Dubai</strong></h2><p>According to reports, the vessel, the Al-Salmi, flagged by Kuwait, was hit while anchored in Dubai's port area. The strike damaged the hull and ignited a fire onboard. Dubai authorities later confirmed the fire had been extinguished, but Kuwait Petroleum Corp flagged the possibility of an oil spill in surrounding waters, warning that emergency and firefighting teams had been scrambled to contain the situation.</p><p>"Emergency response and firefighting teams were immediately mobilised and are currently working to contain and control the situation in close coordination with the relevant authorities," said KPC, warning of an "oil spill in the surrounding waters". Videos from the scene show the oil tanker engulfed in flames, with thick black smoke billowing high into the sky.</p>

<blockquote class="twitter-tweet" data-media-max-width="560"><p lang="en" dir="ltr">Iran is consistent in its promises<br><br>According to media reports, a ship that attempted to exit the Strait of Hormuz without Iran&#39;s permission was attacked. <a href="https://t.co/hmUjCw7cMM">pic.twitter.com/hmUjCw7cMM</a></p>&mdash; 🇷🇺 STANISLAV KRAPIVNIK 🇷🇺 (@STANISKRAPIVNIK) <a href="https://twitter.com/STANISKRAPIVNIK/status/2038765386955387093?ref_src=twsrc%5Etfw">March 30, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>This was not an isolated incident. Since late February, a string of merchant vessels have come under attack by missiles and explosive drones, both aerial and maritime, across the Gulf and the Strait of Hormuz. Monday's strike, however, felt different in scale. Al-Salmi was fully laden, and hitting it this close to Dubai, a major commercial and logistical hub, marks a geographic escalation.</p><h2><strong>Where was Kuwaiti tanker Al-Salmi headed?</strong></h2><p>According to Reuters, Al-Salmi crossed the Strait of Hormuz in late February, around the time the first strikes on Iran took place. It later called at Saudi Arabia's Khafji port and Kuwait's Mina Al Ahmadi terminal before heading east to the UAE, fully loaded and reportedly bound for China's Qingdao — at times flagging Chinese cargo.</p><p>The attack happened the same day Trump issued his most explicit threat yet against Iranian infrastructure, warning he would "completely obliterate" Iran's electrical plants, oil wells, Kharg Island, and possibly desalination facilities if a deal to reopen the Strait of Hormuz isn't reached soon. Global oil prices have already been climbing steadily since the conflict began, and news of Monday's tanker strike pushed markets further.</p><p><strong>Disclaimer: </strong><i>WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.</i></p>

Has Iran just escalated the war at sea? A fully loaded  Kuwaiti oil tanker was set ablaze near Dubai, raising fears of a major spill and wider disruption to global shipping.

How serious is this attack? Scroll down to read more.

Iran struck and set ablaze a fully loaded Kuwaiti crude tanker near Dubai on Monday (Mar 30) in what may be one of the most serious maritime attacks since the US-Israel war against Iran began on February 28. The vessel, the Al-Salmi, transiting the waters under a Kuwait flag, was hit while anchored in Dubai's port area. The attack may have resulted in an "oil spill in the surrounding waters," warned Kuwait Petroleum Corp (KPC) in a statement. Here's all we know. Iran attacks fully loaded oil tanker near Dubai According to reports, the vessel, the Al-Salmi, flagged by Kuwait, was hit while anchored in Dubai's port area. The strike damaged the hull and ignited a fire onboard. Dubai authorities later confirmed the fire had been extinguished, but Kuwait Petroleum Corp flagged the possibility of an oil spill in surrounding waters, warning that emergency and firefighting teams had been scrambled to contain the situation. "Emergency response and firefighting teams were immediately mobilised and are currently working to contain and control the situation in close coordination with the relevant authorities," said KPC, warning of an "oil spill in the surrounding waters". Videos from the scene show the oil tanker engulfed in flames, with thick black smoke billowing high into the sky.

<p>Has Iran just escalated the war at sea? A fully loaded Kuwaiti oil tanker was set ablaze near Dubai, raising fears of a major spill and wider disruption to global shipping.</p><p>How serious is this attack? Scroll down to read more.</p>

Gulf tensions explode as Iran hits, sets ablaze Kuwaiti oil tanker Al-Salmi near Dubai | Watch video

<p>Asian stocks fell sharply, and oil prices surged on Tuesday (Mar 31) morning as the conflict in the Middle East took another sharp turn, as US President Donald Trump threatened to obliterate one of Iran's most critical economic assets if a deal isn't reached soon. The price of West Texas Intermediate (WTI), the main US benchmark for oil, went up 3.30 per cent to $106.28 a barrel. Brent Crude also climbed by 2.23 per cent to $109.78.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/as-death-rumours-swirl-netanyahu-sits-down-for-interview-claiming-iran-war-past-halfway-but-refuses-to-give-end-date-1774909870850"><strong>As death rumours swirl, Netanyahu sits down for interview claiming Iran war past halfway; but refuses to give end date</strong></a></p><h2><strong>Asian stocks tumble after Trump's threat</strong></h2><p>South Korea's Kospi index shed more than four per cent in early trading, while Japan's Nikkei dropped 2.24 per cent, before both recovered slightly. The moves reflect growing unease among investors about where this conflict is headed and what it means for the global economy.</p><p>Oil markets told an equally stark story. West Texas Intermediate, the main US benchmark, climbed 3.30 per cent to $106.28 a barrel, a day after crossing $100 for the first time since the war began. Brent Crude, the international standard, rose 2.23 per cent to $109.78 in early Tuesday trade.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/fbi-confirms-michigan-jewish-temple-synagogue-ramming-a-hezbollah-inspired-terror-attack-1774915926247"><strong>FBI confirms Michigan Jewish temple ramming a ‘Hezbollah-inspired terror attack’</strong></a></p><h2><strong>What triggered the turbulence, the oil price rise?</strong></h2><p>The trigger for the latest market turbulence was a threat from Trump on Monday directed squarely at Iran's Kharg Island, the country's primary oil export terminal. Kharg Island handles the vast majority of Tehran's crude shipments. Trump warned that unless Tehran moved quickly toward a deal, US forces would take out the island along with power stations and desalination facilities. As he put it bluntly in a Truth Social post, US troops would destroy "all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!)."</p><p>Even as he issued the threat, Trump suggested diplomatic talks were gaining traction, a mixed signal that has become something of a pattern throughout this conflict.</p><p><strong>Disclaimer: </strong><i>WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.</i></p>

Asian stocks slid while oil surged past $100 after Donald Trump threatened Iran’s key oil hub. With investors rattled, how serious is this latest warning?

Scroll down to read more.

Asian stocks fell sharply, and oil prices surged on Tuesday (Mar 31) morning as the conflict in the Middle East took another sharp turn, as US President Donald Trump threatened to obliterate one of Iran's most critical economic assets if a deal isn't reached soon. The price of West Texas Intermediate (WTI), the main US benchmark for oil, went up 3.30 per cent to $106.28 a barrel. Brent Crude also climbed by 2.23 per cent to $109.78. Also read | As death rumours swirl, Netanyahu sits down for interview claiming Iran war past halfway; but refuses to give end date Asian stocks tumble after Trump's threat South Korea's Kospi index shed more than four per cent in early trading, while Japan's Nikkei dropped 2.24 per cent, before both recovered slightly. The moves reflect growing unease among investors about where this conflict is headed and what it means for the global economy. Oil markets told an equally stark story. West Texas Intermediate, the main US benchmark, climbed 3.30 per cent to $106.28 a barrel, a day after crossing $100 for the first time since the war began. Brent Crude, the international standard, rose 2.23 per cent to $109.78 in early Tuesday trade. Also read | FBI confirms Michigan Jewish temple ramming a ‘Hezbollah-inspired terror attack’ What triggered the turbulence, the oil price rise? The trigger for the latest market turbulence was a threat from Trump on Monday directed squarely at Iran's Kharg Island, the country's primary oil export terminal. Kharg Island handles the vast majority of Tehran's crude shipments. Trump warned that unless Tehran moved quickly toward a deal, US forces would take out the island along with power stations and desalination facilities. As he put it bluntly in a Truth Social post, US troops would destroy "all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!)." Even as he issued the threat, Trump suggested diplomatic talks were gaining traction, a mixed signal that has become something of a pattern throughout this conflict. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

<p>Asian stocks slid while oil surged past $100 after Donald Trump threatened Iran’s key oil hub. With investors rattled, how serious is this latest warning?</p><p>Scroll down to read more.</p>

Markets rattled, oil prices up as Trump threatens to destroy Kharg Island amid Iran war

<p>In March 2026, Foreign Portfolio Investors (FPIs) have offloaded a record amount of money from the Indian equities market, driven by political instability and macroeconomic pressures. According to one Bloomberg calculation as of March 25, Foreign investors have pulled off $11.7 billion of local shares. This put the squeeze on local shares to record levels, as seen almost a year ago. Domestic Institutional Investors have absorbed the record outflows by pumping in over &nbsp;$13 billion as markets remain volatile. The record negative inflow in March comes after a correction in February 2026. &nbsp;But this hints that the global bearish market has trickled down to the Indian domestic market.&nbsp;</p><p>The total FPI outflow for the calendar year has already surpassed the $15.2 billion or ₹1.27 lakh crore. The last highest outflow in a single month was ₹94,017 crore set in October 2024. March 2026 has already surpassed it. The Financial Service sector has been hit the hardest. The FPI outflow in the first half of March was ₹31,831 crore.</p><p><strong>Also Read: </strong><a href="https://www.wionews.com/world/why-gold-prices-falling-iran-war-dollar-yields-2026-1774246702380"><strong>Gold bearish, dollar index bullish, treasury yields higher amid Iran war- Why is the safe haven crashing?</strong></a></p><h2>What does this mean for the Indian market?</h2><p>There is a sharp correction in the Indian market, as investors move from the riskier emerging markets. The Indian rupee has hit a record low at 95.20 against the US dollar, adding pressure on foreign investors' returns. At the same time, rising treasury yields have boosted the attraction of dollar-driven assets. Analysts suggest that the longer the conflict continues, the steeper the outcome will be. As the Indian equity market's performance is tied to the oil prices, which are directly related to the West Asian geo politics suggest Saion Mukherjee, head of equity research in Nomura. Analysts at Goldman Sachs, Morgan Stanley and UBS Global Wealth Management all have downgraded expectation from Indian equities. They are currently projecting a "higher-for-longer" outlook. With energy prices expected to remain above $100 a barrel for a longer duration and will increase the import cost and inturn will widen the CAD (current account deficit). The interest rates will likely stay high, making borrowing harder and less capital investment in the private sector. “As of now, it is a grim picture, and there is no immediate catalyst suggesting it is changing,” said Siddhart Chatterjee, a portfolio manager with Franklin Templeton Investment Solutions. In a short time ther will be a liquidity crunch; however, some analysts suggest that in the long term, the reduced FPI dependence was good as both domestic institutions and retail investors now help stabilise volatility.</p><p>&nbsp;</p>

Foreign investors pulled $12 bn from Indian equities in March 2026. Weak rupee, high oil prices, and global risks weigh on market outlook.

In March 2026, Foreign Portfolio Investors (FPIs) have offloaded a record amount of money from the Indian equities market, driven by political instability and macroeconomic pressures. According to one Bloomberg calculation as of March 25, Foreign investors have pulled off $11.7 billion of local shares. This put the squeeze on local shares to record levels, as seen almost a year ago. Domestic Institutional Investors have absorbed the record outflows by pumping in over $13 billion as markets remain volatile. The record negative inflow in March comes after a correction in February 2026. But this hints that the global bearish market has trickled down to the Indian domestic market. The total FPI outflow for the calendar year has already surpassed the $15.2 billion or ₹1.27 lakh crore. The last highest outflow in a single month was ₹94,017 crore set in October 2024. March 2026 has already surpassed it. The Financial Service sector has been hit the hardest. The FPI outflow in the first half of March was ₹31,831 crore. Also Read: Gold bearish, dollar index bullish, treasury yields higher amid Iran war- Why is the safe haven crashing? What does this mean for the Indian market? There is a sharp correction in the Indian market, as investors move from the riskier emerging markets. The Indian rupee has hit a record low at 95.20 against the US dollar, adding pressure on foreign investors' returns. At the same time, rising treasury yields have boosted the attraction of dollar-driven assets. Analysts suggest that the longer the conflict continues, the steeper the outcome will be. As the Indian equity market's performance is tied to the oil prices, which are directly related to the West Asian geo politics suggest Saion Mukherjee, head of equity research in Nomura. Analysts at Goldman Sachs, Morgan Stanley and UBS Global Wealth Management all have downgraded expectation from Indian equities. They are currently projecting a "higher-for-longer" outlook. With energy prices expected to remain above $100 a barrel for a longer duration and will increase the import cost and inturn will widen the CAD (current account deficit). The interest rates will likely stay high, making borrowing harder and less capital investment in the private sector. “As of now, it is a grim picture, and there is no immediate catalyst suggesting it is changing,” said Siddhart Chatterjee, a portfolio manager with Franklin Templeton Investment Solutions. In a short time ther will be a liquidity crunch; however, some analysts suggest that in the long term, the reduced FPI dependence was good as both domestic institutions and retail investors now help stabilise volatility.

<p>Foreign investors pulled $12 bn from Indian equities in March 2026. Weak rupee, high oil prices, and global risks weigh on market outlook.</p>

Foreign investors fleeing Indian market, dump $12 bn Indian equities amid Iran war

<p>Someone just got a lifetime supply of the chocolate bar KitKat. We have heard of jewellery heists, even museum heists, but a chocolate heist is a first. 12 tons (over 400,000) of chocolate bars went missing in Europe last week after thieves ‌made off with the truck transporting them. KitKat’s parent company, Nestle, confirmed the robbery in a statement on Sunday.&nbsp;</p><p>&nbsp;</p><p>"We can confirm that 12T of KitKat products were stolen while in transit between our factory in Central Italy and their destination in Poland," KitKat said in a Sunday Instagram statement.</p><p>&nbsp;</p><h2>Over 400,000 chocolate bars vanish</h2><p>&nbsp;</p><p>The company said it was working with local authorities and supply chain partners to investigate the case.</p><p>The truck was reportedly carrying 413, 793 bars of KitKat. The brand had introduced a new range, which was being transported from its factory in Central Italy, and had to be transported throughout Europe. But according to the official statement, the truck never reached its final destination in Poland.&nbsp;</p><p>&nbsp;</p><p>The ​vehicle and the merchandise remain ​unaccounted for. Nestle did not reveal where ‌exactly ⁠the truck was lost.</p><h2>Missing bars are traceable</h2><p>&nbsp;</p><p>While Nestle did not reveal where the truck was lost, KitKat, in a separate statement, said that the missing bars could be traced via a unique batch code. Anyone ⁠scanning the batch numbers of the stolen chocolate would ​receive instructions on how to ​contact ⁠KitKat.</p><p>&nbsp;</p><p>KitKat also added a bit of humour to its statement as it said, "Whilst we appreciate the criminals' exceptional taste, the fact remains that ⁠cargo ​theft is an escalating ​issue for businesses of all sizes.”</p><p>&nbsp;</p><p>The brand also added a bit of hope for its loyal customers in the statement and said, “The good news: there are no concerns for consumer safety and supply is not affected.”</p><h2>Internet reacts</h2><p>Followers on X reacted to the chocolate heist with interesting memes. One user pointed out, “Insurance will cover it, and this is great PR”</p><p>&nbsp;</p><p>Another said that the oil crisis due to the war was nothing compared to this heist.&nbsp;</p><p>&nbsp;</p>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Oil shortage ❌<br>KitKat shortage ✔️ <a href="https://t.co/z0wp4bL9vk">pic.twitter.com/z0wp4bL9vk</a></p>&mdash; .Sachîn (@0x_Sachin) <a href="https://twitter.com/0x_Sachin/status/2038326003723018363?ref_src=twsrc%5Etfw">March 29, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">It’s not about the chocolate, it’s about sending a message. <br>Nobody gets a break. <a href="https://t.co/xXuvkvgy9q">pic.twitter.com/xXuvkvgy9q</a></p>&mdash; Ambar (@Ambar_SIFF_MRA) <a href="https://twitter.com/Ambar_SIFF_MRA/status/2038328682524402057?ref_src=twsrc%5Etfw">March 29, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">kitkat is the new currency <a href="https://t.co/tJO1YWNzJb">pic.twitter.com/tJO1YWNzJb</a></p>&mdash; kPhantom (@kphantom_) <a href="https://twitter.com/kphantom_/status/2038327500594679860?ref_src=twsrc%5Etfw">March 29, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="qme" dir="ltr"> <a href="https://t.co/MbQv8egEme">pic.twitter.com/MbQv8egEme</a></p>&mdash; Saul Goodman ⚖ (@itsSaulGoodman) <a href="https://twitter.com/itsSaulGoodman/status/2038336769670738249?ref_src=twsrc%5Etfw">March 29, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Man, someone REALLY wanted to take a break</p>&mdash; Sean (Shin) (@shinzah321) <a href="https://twitter.com/shinzah321/status/2038322178232299736?ref_src=twsrc%5Etfw">March 29, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>Another referred to the brand’s recurring catchphrase and wrote. “Man, someone REALLY wanted to take a break”</p>

We have heard of heists in museums, but a chocolate heist is a first. Over 400,000 bars of the popular chocolate brand KitKat has been stolen in Europe. The consignment was travelling to Poland from its factory in central Italy, but the truck vanished mid-way. 

Someone just got a lifetime supply of the chocolate bar KitKat. We have heard of jewellery heists, even museum heists, but a chocolate heist is a first. 12 tons (over 400,000) of chocolate bars went missing in Europe last week after thieves ‌made off with the truck transporting them. KitKat’s parent company, Nestle, confirmed the robbery in a statement on Sunday. "We can confirm that 12T of KitKat products were stolen while in transit between our factory in Central Italy and their destination in Poland," KitKat said in a Sunday Instagram statement. Over 400,000 chocolate bars vanish The company said it was working with local authorities and supply chain partners to investigate the case. The truck was reportedly carrying 413, 793 bars of KitKat. The brand had introduced a new range, which was being transported from its factory in Central Italy, and had to be transported throughout Europe. But according to the official statement, the truck never reached its final destination in Poland. The vehicle and the merchandise remain unaccounted for. Nestle did not reveal where ‌exactly ⁠the truck was lost. Missing bars are traceable While Nestle did not reveal where the truck was lost, KitKat, in a separate statement, said that the missing bars could be traced via a unique batch code. Anyone ⁠scanning the batch numbers of the stolen chocolate would receive instructions on how to contact ⁠KitKat. KitKat also added a bit of humour to its statement as it said, "Whilst we appreciate the criminals' exceptional taste, the fact remains that ⁠cargo theft is an escalating issue for businesses of all sizes.” The brand also added a bit of hope for its loyal customers in the statement and said, “The good news: there are no concerns for consumer safety and supply is not affected.” Internet reacts Followers on X reacted to the chocolate heist with interesting memes. One user pointed out, “Insurance will cover it, and this is great PR” Another said that the oil crisis due to the war was nothing compared to this heist.

<p>We have heard of heists in museums, but a chocolate heist is a first. Over 400,000 bars of the popular chocolate brand KitKat has been stolen in Europe. The consignment was travelling to Poland from its factory in central Italy, but the truck vanished mid-way.&nbsp;</p>

The sweetest crime of the century?400,000 chocolate bars vanish in massive heist in Europe

The ongoing US-Israel-Iran war has profoundly impacted the economic landscape of India. It has been one month since the war began on February 28, 2026, and the closure of the Strait of Hormuz has triggered a massive economic strain. Let's have a look at the impacted sectors.

<p>The ongoing US-Israel-Iran war has profoundly impacted the economic landscape of India. It has been one month since the war began on February 28, 2026, and the closure of the Strait of Hormuz has triggered a massive economic strain. Let's have a look at the impacted sectors.</p>

Economy under stress: 5 major impacts on India after one month of West Asia War

<p>Amid rising tensions in West Asia and a sustained increase in crude oil prices, the macro outlook of India faces rising risks, according to a report by global equity research and brokerage firm Bernstein. The report also warned that the ongoing geopolitical shock could lead to structural vulnerabilities in the Indian economy if it continues.</p><p><br>'A prolonged period of elevated crude and tighter external financing conditions could play out for India's macro," the report noted, warning of a potential "GFC moment." It also recalled that after the global financial crisis, "India's economic growth slipped from 10 per cent to 5 per cent, inflation spiked to 10 per cent, and the rupee depreciated 30 per cent."</p><p><br>The report highlighted crude oil prices as a major source of concern, warning that rising prices could push inflation beyond the acceptable range while also posing risks to economic growth and external stability. In a worst-case scenario, where the conflict continues into 2026, Bernstein cautioned that the impact could be severe, potentially leading to double-digit inflation, GDP growth slowing to 2–3 per cent, the rupee weakening past 110, and the Nifty falling well below 20,000.</p><h3>Inflation is likely to cross 6 per cent</h3><p>Even under more moderate conditions, the outlook remains difficult. The report indicated that there is a strong likelihood of inflation exceeding 6 per cent in the coming months, which could delay interest rate cuts by at least at the least, and GDP growth to taper. Higher crude prices are expected to strain external imbalances. The report also noted that "elevated crude and trade almost go hand in hand," potentially widening the merchandise trade deficit and putting pressure on the current account.</p><p><br>The currency is also under pressure, with the report indicating that the rupee could soon breach the 97–98 range if tensions persist. While a short-term easing of conflict is possible, Bernstein noted that lasting structural changes may already be taking place, with crude prices unlikely to return to previous lower levels this year.</p><p>&nbsp;</p><p>Overall, the report warned that prolonged geopolitical tensions could significantly impact the economy, potentially setting growth back by three to four years. Even in less severe scenarios, it could reduce annual GDP growth by about one percentage point.</p><p>&nbsp;</p><p><strong>Also read:</strong> <a href="https://www.wionews.com/india-news/fuel-crisis-push-why-india-wants-to-switch-from-lpg-to-png-where-it-mostly-comes-from-1774694973275">Fuel crisis push: Why India wants to switch from LPG to PNG &amp; where it mostly comes from</a></p>

The report highlighted crude oil prices as a major source of concern, warning that rising prices could push inflation beyond the acceptable range while also posing risks to economic growth and external stability.

Amid rising tensions in West Asia and a sustained increase in crude oil prices, the macro outlook of India faces rising risks, according to a report by global equity research and brokerage firm Bernstein. The report also warned that the ongoing geopolitical shock could lead to structural vulnerabilities in the Indian economy if it continues. 'A prolonged period of elevated crude and tighter external financing conditions could play out for India's macro," the report noted, warning of a potential "GFC moment." It also recalled that after the global financial crisis, "India's economic growth slipped from 10 per cent to 5 per cent, inflation spiked to 10 per cent, and the rupee depreciated 30 per cent." The report highlighted crude oil prices as a major source of concern, warning that rising prices could push inflation beyond the acceptable range while also posing risks to economic growth and external stability. In a worst-case scenario, where the conflict continues into 2026, Bernstein cautioned that the impact could be severe, potentially leading to double-digit inflation, GDP growth slowing to 2–3 per cent, the rupee weakening past 110, and the Nifty falling well below 20,000. Inflation is likely to cross 6 per cent Even under more moderate conditions, the outlook remains difficult. The report indicated that there is a strong likelihood of inflation exceeding 6 per cent in the coming months, which could delay interest rate cuts by at least at the least, and GDP growth to taper. Higher crude prices are expected to strain external imbalances. The report also noted that "elevated crude and trade almost go hand in hand," potentially widening the merchandise trade deficit and putting pressure on the current account. The currency is also under pressure, with the report indicating that the rupee could soon breach the 97–98 range if tensions persist. While a short-term easing of conflict is possible, Bernstein noted that lasting structural changes may already be taking place, with crude prices unlikely to return to previous lower levels this year. Overall, the report warned that prolonged geopolitical tensions could significantly impact the economy, potentially setting growth back by three to four years. Even in less severe scenarios, it could reduce annual GDP growth by about one percentage point. Also read: Fuel crisis push: Why India wants to switch from LPG to PNG & where it mostly comes from

<p>The report highlighted crude oil prices as a major source of concern, warning that rising prices could push inflation beyond the acceptable range while also posing risks to economic growth and external stability.</p>

Oil surge threatens India’s economy, Bernstein's new report warns of structural risks

<p>A Rs 6,855 crore loan trail is now under the Serious Fraud Investigation Office (SFIO) scanner, with the investigation stretching across multiple leadership eras. The SFIO, India's corporate fraud watchdog, has stepped up its action against IFCI, moving the National Company Law Tribunal with a broad petition that covers institutions, senior executives and several corporate borrowers. At the heart of the case are alleged irregularities in loans worth Rs 6,855 crore.</p><p>Reports suggest that this is not just about a possible fraud. It also raises bigger questions around accountability at the highest level in the country. In a rare move, three former CMDs of an institution, from different tenures, are now under scrutiny. That alone suggests the issue may reflect deeper, long-term governance gaps. Several large corporate names are also part of the probe, pointing to wider linkages across the system.</p><p>Experts say this could turn into a landmark case on how legacy financial misconduct is handled in India. They also believe the outcome could reshape accountability standards across financial institutions, if the allegations are proven. The next NCLT hearing will be key in deciding how far and how deep the probe goes.</p><h2><strong>Three CMDs under one probe</strong></h2><p>SFIO has named three former IFCI Chairmen and Managing Directors:</p><ul><li>Santosh Nayar</li><li>Malay Mukherjee</li><li>Atul Kumar Rai</li></ul><p>Having three CMDs in a single investigation is highly unusual. It suggests the problem may have spanned multiple leadership cycles, not just a one-off lapse. The key question now is whether this was an isolated failure or a pattern built into the system.</p><h2><strong>Inside the NCLT case</strong></h2><p>The case has been filed as Company Petition CP/34/PB/2026 on January 24 and has already reached the admission stage. More than 90 individuals and entities have been named as respondents, underlining the scale of the probe.</p><h2><strong>What triggered the action</strong></h2><p>According to SFIO’s petition, there were serious lapses in core lending processes:</p><ul><li>Due diligence norms were not properly followed</li><li>Valuation and risk assessment practices were questionable</li><li>Internal approval systems may have been bypassed</li></ul><p>The result was a pile-up of bad loans with a significant financial impact.</p><h2><strong>Corporate names under scrutiny</strong></h2><p>Several well-known companies are part of the investigation, many of which have already faced financial stress:</p><ul><li>Blue Coast Hotels</li><li>Amtek Auto</li><li>Alok Industries</li><li>Bhushan Steel</li><li>Jaypee Infratech</li><li>ABG Shipyard</li><li>Pipavav Defence</li></ul><p>Many of these firms have gone through insolvency proceedings, raising concerns about how creditworthiness was assessed when the loans were cleared.</p><h2><strong>A widening net</strong></h2><p>The probe is not limited to corporate borrowers. It also includes current and former IFCI officials, including senior management and board-level executives. In total, over 90 respondents have been named.</p><p>Investigators are now looking into whether lending decisions involved collusion or a deliberate dilution of norms at higher levels.<br>&nbsp;</p>

The case has been filed as Company Petition CP/34/PB/2026 on January 24 and has already reached the admission stage. More than 90 individuals and entities have been named as respondents, underlining the scale of the probe.

A Rs 6,855 crore loan trail is now under the Serious Fraud Investigation Office (SFIO) scanner, with the investigation stretching across multiple leadership eras. The SFIO, India's corporate fraud watchdog, has stepped up its action against IFCI, moving the National Company Law Tribunal with a broad petition that covers institutions, senior executives and several corporate borrowers. At the heart of the case are alleged irregularities in loans worth Rs 6,855 crore. Reports suggest that this is not just about a possible fraud. It also raises bigger questions around accountability at the highest level in the country. In a rare move, three former CMDs of an institution, from different tenures, are now under scrutiny. That alone suggests the issue may reflect deeper, long-term governance gaps. Several large corporate names are also part of the probe, pointing to wider linkages across the system. Experts say this could turn into a landmark case on how legacy financial misconduct is handled in India. They also believe the outcome could reshape accountability standards across financial institutions, if the allegations are proven. The next NCLT hearing will be key in deciding how far and how deep the probe goes. Three CMDs under one probe SFIO has named three former IFCI Chairmen and Managing Directors: Santosh Nayar Malay Mukherjee Atul Kumar Rai Having three CMDs in a single investigation is highly unusual. It suggests the problem may have spanned multiple leadership cycles, not just a one-off lapse. The key question now is whether this was an isolated failure or a pattern built into the system. Inside the NCLT case The case has been filed as Company Petition CP/34/PB/2026 on January 24 and has already reached the admission stage. More than 90 individuals and entities have been named as respondents, underlining the scale of the probe. What triggered the action According to SFIO’s petition, there were serious lapses in core lending processes: Due diligence norms were not properly followed Valuation and risk assessment practices were questionable Internal approval systems may have been bypassed The result was a pile-up of bad loans with a significant financial impact. Corporate names under scrutiny Several well-known companies are part of the investigation, many of which have already faced financial stress: Blue Coast Hotels Amtek Auto Alok Industries Bhushan Steel Jaypee Infratech ABG Shipyard Pipavav Defence Many of these firms have gone through insolvency proceedings, raising concerns about how creditworthiness was assessed when the loans were cleared. A widening net The probe is not limited to corporate borrowers. It also includes current and former IFCI officials, including senior management and board-level executives. In total, over 90 respondents have been named. Investigators are now looking into whether lending decisions involved collusion or a deliberate dilution of norms at higher levels.

<p>The case has been filed as Company Petition CP/34/PB/2026 on January 24 and has already reached the admission stage. More than 90 individuals and entities have been named as respondents, underlining the scale of the probe.</p>

SFIO probes 15 years of systemic lending lapses at IFCI: 3 CMDs, over 90 entities under scanner in ₹6,855 crore loan fraud investigation

<p>Rising global energy prices amid the ongoing West Asia conflict are likely to put significant pressure on India's fiscal position in FY27, according to a report by ICRA. However, the report still claims that available buffers are likely to help manage the impact of the crisis.</p><p><br>It noted that geopolitical tensions largely drive recent increases in energy prices, have added volatility to global markets and could require adjustments in fiscal policy. "Even if the situation stabilises, energy prices are expected to remain higher than earlier budgeted assumptions, which may require fiscal adjustments," the report said.</p><p><br>The rating agency said that higher crude oil and gas prices may increase subsidy burdens, particularly for fertilisers and LPG. "Higher crude oil and natural gas prices may lead to an increase in subsidy requirements, particularly for fertilisers and liquefied petroleum gas (LPG)," it added.</p><h3>Fiscal buffers</h3><p>It also flagged possible pressure on government revenues, indicating that elevated prices could lead to softer excise collections and lower corporate tax inflows. Over supply-side concerns, ICRA stated that “global supply disruptions and logistical challenges have contributed to the increase in energy prices, which could impact various sectors, including petroleum and fertilisers.”</p><p>&nbsp;</p><p>However, ICRA highlighted the availability of fiscal buffers despite these challenges. "Multiple buffers are available to manage the impact," ICRA said. It also cited mechanisms that include the Economic Stabilisation Fund (ESF), expenditure savings, and flexibility through supplementary demand for grants.</p><p>&nbsp;</p><p>It also stated that savings in expenditure seen in recent years, along with the possible carry-forward of higher small savings collections, could create extra fiscal room. At the same time, lower redemptions and tweaks in market borrowing may provide additional support.</p><p>&nbsp;</p><p>On the fiscal outlook, ICRA said these buffers could help limit deviations from targets. "These buffers may help contain any significant deviation from the fiscal deficit target of 4.5 per cent of GDP for FY2026-27," the report stated and cautioned that outcomes depend on how long elevated energy prices continue.</p><p>&nbsp;</p><p><strong>Also read:</strong> <a href="https://www.wionews.com/india-news/lpg-vessel-apollo-ocean-docks-in-karnataka-india-assures-stable-energy-supply-1774533177605">LPG vessel 'Apollo Ocean' docks in Karnataka, India assures stable energy supply</a></p>

ICRA flagged possible pressure on government revenues, indicating that elevated prices could lead to softer excise collections and lower corporate tax inflows. Despite these challenges, it highlighted the availability of fiscal buffers. 

Rising global energy prices amid the ongoing West Asia conflict are likely to put significant pressure on India's fiscal position in FY27, according to a report by ICRA. However, the report still claims that available buffers are likely to help manage the impact of the crisis. It noted that geopolitical tensions largely drive recent increases in energy prices, have added volatility to global markets and could require adjustments in fiscal policy. "Even if the situation stabilises, energy prices are expected to remain higher than earlier budgeted assumptions, which may require fiscal adjustments," the report said. The rating agency said that higher crude oil and gas prices may increase subsidy burdens, particularly for fertilisers and LPG. "Higher crude oil and natural gas prices may lead to an increase in subsidy requirements, particularly for fertilisers and liquefied petroleum gas (LPG)," it added. Fiscal buffers It also flagged possible pressure on government revenues, indicating that elevated prices could lead to softer excise collections and lower corporate tax inflows. Over supply-side concerns, ICRA stated that “global supply disruptions and logistical challenges have contributed to the increase in energy prices, which could impact various sectors, including petroleum and fertilisers.” However, ICRA highlighted the availability of fiscal buffers despite these challenges. "Multiple buffers are available to manage the impact," ICRA said. It also cited mechanisms that include the Economic Stabilisation Fund (ESF), expenditure savings, and flexibility through supplementary demand for grants. It also stated that savings in expenditure seen in recent years, along with the possible carry-forward of higher small savings collections, could create extra fiscal room. At the same time, lower redemptions and tweaks in market borrowing may provide additional support. On the fiscal outlook, ICRA said these buffers could help limit deviations from targets. "These buffers may help contain any significant deviation from the fiscal deficit target of 4.5 per cent of GDP for FY2026-27," the report stated and cautioned that outcomes depend on how long elevated energy prices continue. Also read: LPG vessel 'Apollo Ocean' docks in Karnataka, India assures stable energy supply

<p>ICRA flagged possible pressure on government revenues, indicating that elevated prices could lead to softer excise collections and lower corporate tax inflows. Despite these challenges, it highlighted the availability of fiscal buffers.&nbsp;</p>

Rising energy prices could put strain on India’s FY27 fiscal position, says ICRA

<p>A federal judge in the US has temporarily blocked the Pentagon's ‘supply chain risk’ designation against Anthropic, the AI firm, whose Claude model was reportedly used in the first days of the Iran war for purposes including target determination for US forces. In the 43-page ruling, US District Judge Rita Lin sided with Anthropic, also halting President Donald Trump’s directive to cut all federal contracts with the company.</p><h2>Anthropic vs Pentagon: What the court ruling said</h2><p>Terming the Trump administration's actions ‘classic First Amendment retaliation,’ Judge Lin wrote in the ruling: “These broad measures do not appear to be directed at the government’s stated national security interests.”</p><p>“If the concern is the integrity of the operational chain of command, the Department of War could just stop using Claude… Instead, these measures appear designed to punish Anthropic,” the judge said.</p><p>Also read: <a href="https://www.wionews.com/world/did-us-use-anthropic-ai-in-iran-s-strikes-despite-trump-s-ban-what-we-know-1772356637161">Did US use Anthropic AI in Iran’s strikes despite Trump’s ban? What we know</a></p><h2>Anthropic versus Pentagon: How did they reach here?</h2><p>The dispute centres around the Pentagon’s insistence on using Anthropic’s Claude model for “all lawful uses,” including some potential military applications that Anthropic vehemently resisted.</p><p>These included the use of its AI in fully autonomous lethal weapons and mass surveillance of Americans. Anthropic argued, as did its CEO Dario Amodei, that this stance is a “protected viewpoint” of the company.</p><p>Judge Lin supported Anthropic's argument, stating, “Nothing in the governing statute supports the Orwellian notion that an American company may be branded a potential adversary… for expressing disagreement with the government.”</p><p>Lin also found Anthropic likely to succeed on claims that its due process rights were violated and that Defence Secretary Pete Hegseth failed to follow due process.</p><p>&nbsp;</p><p><a href="https://www.wionews.com/videos/anthropic-vs-pentagon-anthropic-refuses-pentagon-request-for-ai-weapons-1774462511822/embed">https://www.wionews.com/videos/anthropic-vs-pentagon-anthropic-refuses-pentagon-request-for-ai-weapons-1774462511822/embed</a></p><h2>It is not over yet for Anthropic</h2><p>The ruling has been paused for one week so that the Trump administration can appeal to the US Court of Appeals. The court ruling blocks sweeping restrictions such as banning federal contracts and limiting partnerships for Anthropic. However, it does not prevent the Pentagon from discontinuing use of Claude or selecting alternative AI vendors.</p><p>Many tech companies had supported Anthropic’s challenge to the Pentagon. A spokesperson for Anthropic said the firm is “grateful” and remains focused on ensuring “safe, reliable AI” for Americans.</p><p>However, it may be difficult for the company to make a comeback to government contracts. The Department of Health and Human Services and the General Services Administration, for instance, had already removed Anthropic products following earlier directives.</p><p>Also read: <a href="https://www.wionews.com/world/-no-dictator-style-praise-anthropic-ceo-says-us-govt-hostility-linked-to-trump-donations-slams-openai-s-altman-in-internal-memo-report-1772698855018">'No dictator-style praise': Anthropic CEO says US govt hostility linked to Trump donations; slams OpenAI's Altman in internal memo - Report</a></p><h2>Why the Anthropic ruling matters: A question of First Amendment, national security, and AI policy</h2><p>The case is being seen as a litmus test for issues at the crossroads of the First Amendment, national security, and AI policy. The Pentagon’s “supply chain risk” designation is typically reserved for foreign adversaries, making its application to a US-based firm unusual. As AI systems like Claude become increasingly powerful, debates have intensified about their use in military operations, surveillance, and public sector deployment. The ruling is a significant development in the ongoing clash between the artificial intelligence-led tech industry and the government over AI regulation, national security, and constitutional rights.</p>

A US judge has blocked the Pentagon’s ‘supply chain risk’ designation for Anthropic, calling it a ‘First Amendment retaliation’. This is a significant development in the legal battle over AI use in the military, ethics, and national security. Here is why

A federal judge in the US has temporarily blocked the Pentagon's ‘supply chain risk’ designation against Anthropic, the AI firm, whose Claude model was reportedly used in the first days of the Iran war for purposes including target determination for US forces. In the 43-page ruling, US District Judge Rita Lin sided with Anthropic, also halting President Donald Trump’s directive to cut all federal contracts with the company. Anthropic vs Pentagon: What the court ruling said Terming the Trump administration's actions ‘classic First Amendment retaliation,’ Judge Lin wrote in the ruling: “These broad measures do not appear to be directed at the government’s stated national security interests.” “If the concern is the integrity of the operational chain of command, the Department of War could just stop using Claude… Instead, these measures appear designed to punish Anthropic,” the judge said. Also read: Did US use Anthropic AI in Iran’s strikes despite Trump’s ban? What we know Anthropic versus Pentagon: How did they reach here? The dispute centres around the Pentagon’s insistence on using Anthropic’s Claude model for “all lawful uses,” including some potential military applications that Anthropic vehemently resisted. These included the use of its AI in fully autonomous lethal weapons and mass surveillance of Americans. Anthropic argued, as did its CEO Dario Amodei, that this stance is a “protected viewpoint” of the company. Judge Lin supported Anthropic's argument, stating, “Nothing in the governing statute supports the Orwellian notion that an American company may be branded a potential adversary… for expressing disagreement with the government.” Lin also found Anthropic likely to succeed on claims that its due process rights were violated and that Defence Secretary Pete Hegseth failed to follow due process. https://www.wionews.com/videos/anthropic-vs-pentagon-anthropic-refuses-pentagon-request-for-ai-weapons-1774462511822/embed It is not over yet for Anthropic The ruling has been paused for one week so that the Trump administration can appeal to the US Court of Appeals. The court ruling blocks sweeping restrictions such as banning federal contracts and limiting partnerships for Anthropic. However, it does not prevent the Pentagon from discontinuing use of Claude or selecting alternative AI vendors. Many tech companies had supported Anthropic’s challenge to the Pentagon. A spokesperson for Anthropic said the firm is “grateful” and remains focused on ensuring “safe, reliable AI” for Americans. However, it may be difficult for the company to make a comeback to government contracts. The Department of Health and Human Services and the General Services Administration, for instance, had already removed Anthropic products following earlier directives. Also read: 'No dictator-style praise': Anthropic CEO says US govt hostility linked to Trump donations; slams OpenAI's Altman in internal memo - Report Why the Anthropic ruling matters: A question of First Amendment, national security, and AI policy The case is being seen as a litmus test for issues at the crossroads of the First Amendment, national security, and AI policy. The Pentagon’s “supply chain risk” designation is typically reserved for foreign adversaries, making its application to a US-based firm unusual. As AI systems like Claude become increasingly powerful, debates have intensified about their use in military operations, surveillance, and public sector deployment. The ruling is a significant development in the ongoing clash between the artificial intelligence-led tech industry and the government over AI regulation, national security, and constitutional rights.

<p>A US judge has blocked the Pentagon’s ‘supply chain risk’ designation for Anthropic, calling it a ‘First Amendment retaliation’. This is a significant development in the legal battle over AI use in the military, ethics, and national security. Here is why</p>

Anthropic vs Pentagon: Judge blocks designation of AI firm as ‘supply chain risk’. It's 1–0, for now

<p>Turkey’s central bank has swapped and sold nearly 60 tons of gold, worth over $8 billion, in two weeks after the West Asia war begins. This has added to downward pressure on bullion prices as the country's gold reserves show a decline of 6 tons in the week of March 13 and another 52.4 tons in the week of March 20, according to the latest data published by the central bank.</p><p><br>According to a report by the Bloomberg, some of the gold was sold outright, however, most of them was utilised to secure foreign exchange or liras via swap agreements. Meanwhile, officials of the Turkey’s central bank has declined to give any remarks on it.</p><p><br>The move comes as Turkey’s disinflation strategy faces pressure, as it depends on keeping the lira stable or gradually weakening, often supported by foreign-currency interventions through state-run banks. However, higher energy import costs and increased demand for dollar since the war began have made this approach harder to maintain.</p><h3>Central bank relied on gold sales and swap deals</h3><p>To manage liquidity and support domestic demand, officials have reportedly relied on gold sales and swap deals using the central bank’s $135 billion reserves, according to Iris Cibre of Phoenix Consultancy in Istanbul. She estimated total sales at 58.4 tonnes, with more than half carried out through gold-for-foreign-exchange swaps overseas.</p><p><br>This figure is higher than the roughly 43 tones of outflows from gold-backed exchange-traded funds tracked by Bloomberg during the same two-week period, highlighting the scale of the intervention.</p><p><br>Additionally, as per Bloomberg, the central bank of Turkey had been discussing to track its gold reserves via transactions in London to protect the lira from steeper war-related losses. The report sent the spot price of the gold on global markets swinging to a loss from an previous gain. It indicated that the spot gold declined another 2.4 per cent as of 5 p.m. in London on Thursday, paring losses from as much as 3.1 per cent previous.<br>&nbsp;</p><p><strong>Also read: </strong><a href="https://www.wionews.com/world/india-petrol-diesel-price-hike-nayara-energy-march-2026-1774521014719">Petrol, diesel prices surge in India after Nayara Energy hike: Check city-wise prices today</a></p>

Some of the gold was sold outright, however, most of them was utilised to secure foreign exchange or liras via swap agreements. Meanwhile, officials of the Turkey’s central bank has declined to give any remarks on it.

Turkey’s central bank has swapped and sold nearly 60 tons of gold, worth over $8 billion, in two weeks after the West Asia war begins. This has added to downward pressure on bullion prices as the country's gold reserves show a decline of 6 tons in the week of March 13 and another 52.4 tons in the week of March 20, according to the latest data published by the central bank. According to a report by the Bloomberg, some of the gold was sold outright, however, most of them was utilised to secure foreign exchange or liras via swap agreements. Meanwhile, officials of the Turkey’s central bank has declined to give any remarks on it. The move comes as Turkey’s disinflation strategy faces pressure, as it depends on keeping the lira stable or gradually weakening, often supported by foreign-currency interventions through state-run banks. However, higher energy import costs and increased demand for dollar since the war began have made this approach harder to maintain. Central bank relied on gold sales and swap deals To manage liquidity and support domestic demand, officials have reportedly relied on gold sales and swap deals using the central bank’s $135 billion reserves, according to Iris Cibre of Phoenix Consultancy in Istanbul. She estimated total sales at 58.4 tonnes, with more than half carried out through gold-for-foreign-exchange swaps overseas. This figure is higher than the roughly 43 tones of outflows from gold-backed exchange-traded funds tracked by Bloomberg during the same two-week period, highlighting the scale of the intervention. Additionally, as per Bloomberg, the central bank of Turkey had been discussing to track its gold reserves via transactions in London to protect the lira from steeper war-related losses. The report sent the spot price of the gold on global markets swinging to a loss from an previous gain. It indicated that the spot gold declined another 2.4 per cent as of 5 p.m. in London on Thursday, paring losses from as much as 3.1 per cent previous. Also read: Petrol, diesel prices surge in India after Nayara Energy hike: Check city-wise prices today

<p>Some of the gold was sold outright, however, most of them was utilised to secure foreign exchange or liras via swap agreements. Meanwhile, officials of the Turkey’s central bank has declined to give any remarks on it.</p>

Turkey sells, swaps nearly 60 tonnes of Gold worth $8 billion amid West Asia war pressures

<p>The government of India, on Friday (Mar 26) slashed special additional excise duties on petrol and diesel — petrol down to ₹3 per litre from ₹13, and diesel all the way to zero from ₹10. Aviation turbine fuel got a full exemption, too. A windfall tax on diesel exports has been set at ₹21.5 per litre, and ₹29.5 per litre for aviation fuel exports. However, don't rush to the pump just yet, though. Retail prices remain unchanged — for now. This comes as the Indian Ministry of Petroleum and Natural Gas insisted that India's petroleum and LPG supply situation is fully secure and under control. However, don't rush to the pump just yet, though. Retail prices remain unchanged — for now.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/after-strait-of-hormuz-bab-al-mandab-next-houthi-rebels-threaten-global-trade-lifeline-say-fully-militarily-ready-to-support-iran-1774575420107"><strong>After Hormuz, Bab al-Mandab next? Houthis 'fully militarily ready' to back Iran</strong></a></p><h2><strong>Why won't consumers benefit?</strong></h2><p>The answer is sitting in the Persian Gulf. The US-Israel war on Iran and Tehran's blockade of the Strait of Hormuz have sent global crude prices spiralling. That strait, through which somewhere between 20 and 25 million barrels of oil pass every day — roughly a fifth of the world's supply — is effectively closed. Before the conflict, India was sourcing 12 to 15 per cent of its oil through that corridor.&nbsp;</p><p>However, the immediate beneficiaries of Friday's cut aren't consumers — not directly, anyway. It's the Oil Marketing Companies, which have been quietly bleeding money on the retail side as crude costs shot up while pump prices held. The duty cut plugs that gap, at least partially.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/-a-bad-start-for-iran-s-new-supreme-leader-trump-confirms-cia-told-him-mojtaba-khamenei-is-gay-1774570805558"><strong>'A bad start'? Trump confirms CIA told him Mojtaba Khamenei is gay | Watch video</strong></a></p><h2>FM Sitharaman says move will benefit consumers in the long run</h2><p>In a post on X, Indian Finance Minister Nirmala Sitharaman said that the excise duty cut would “provide protection to consumers from rise in prices.” She added that Prime Minister Narendra Modi “has always ensured that citizens are protected from vagaries of supply and costs of essential goods.”</p><p>The FM also said that &nbsp;₹21.5 per litre duty has been levied on diesel exports and a ₹29.5 per litre duty on ATF, adding that this will ensure sufficient availability of these products for domestic use.&nbsp;</p><h2><strong>No need to panic, says the government</strong></h2><p>The Ministry of Petroleum and Natural Gas has meanwhile pushed back against what it called rumours — there have been scattered reports of panic buying in some areas. "All 1 lakh-plus retail fuel outlets across the country are open and dispensing fuel without interruption," the ministry said, adding that "Not a single outlet has been asked to ration supply. Across the world, countries are dealing with price increases, rationing, odd-even vehicle restrictions, and forced station closures. Few have declared 'National Energy Emergency'. India does not feel for any such measures."&nbsp;</p>

Why won’t petrol and diesel get cheaper for you despite a massive duty cut? India has slashed excise duties, but pump prices remain unchanged as global crude surges amid the Strait of Hormuz crisis.

So who is actually benefiting right now? Scroll down to read more.

The government of India, on Friday (Mar 26) slashed special additional excise duties on petrol and diesel — petrol down to ₹3 per litre from ₹13, and diesel all the way to zero from ₹10. Aviation turbine fuel got a full exemption, too. A windfall tax on diesel exports has been set at ₹21.5 per litre, and ₹29.5 per litre for aviation fuel exports. However, don't rush to the pump just yet, though. Retail prices remain unchanged — for now. This comes as the Indian Ministry of Petroleum and Natural Gas insisted that India's petroleum and LPG supply situation is fully secure and under control. However, don't rush to the pump just yet, though. Retail prices remain unchanged — for now. Also read | After Hormuz, Bab al-Mandab next? Houthis 'fully militarily ready' to back Iran Why won't consumers benefit? The answer is sitting in the Persian Gulf. The US-Israel war on Iran and Tehran's blockade of the Strait of Hormuz have sent global crude prices spiralling. That strait, through which somewhere between 20 and 25 million barrels of oil pass every day — roughly a fifth of the world's supply — is effectively closed. Before the conflict, India was sourcing 12 to 15 per cent of its oil through that corridor. However, the immediate beneficiaries of Friday's cut aren't consumers — not directly, anyway. It's the Oil Marketing Companies, which have been quietly bleeding money on the retail side as crude costs shot up while pump prices held. The duty cut plugs that gap, at least partially. Also read | 'A bad start'? Trump confirms CIA told him Mojtaba Khamenei is gay | Watch video FM Sitharaman says move will benefit consumers in the long run In a post on X, Indian Finance Minister Nirmala Sitharaman said that the excise duty cut would “provide protection to consumers from rise in prices.” She added that Prime Minister Narendra Modi “has always ensured that citizens are protected from vagaries of supply and costs of essential goods.” The FM also said that ₹21.5 per litre duty has been levied on diesel exports and a ₹29.5 per litre duty on ATF, adding that this will ensure sufficient availability of these products for domestic use. No need to panic, says the government The Ministry of Petroleum and Natural Gas has meanwhile pushed back against what it called rumours — there have been scattered reports of panic buying in some areas. "All 1 lakh-plus retail fuel outlets across the country are open and dispensing fuel without interruption," the ministry said, adding that "Not a single outlet has been asked to ration supply. Across the world, countries are dealing with price increases, rationing, odd-even vehicle restrictions, and forced station closures. Few have declared 'National Energy Emergency'. India does not feel for any such measures."

<p>Why won’t petrol and diesel get cheaper for you despite a massive duty cut? India has slashed excise duties, but pump prices remain unchanged as global crude surges amid the Strait of Hormuz crisis.</p><p>So who is actually benefiting right now? Scroll down to read more.</p>

India cuts petrol and diesel taxes — but prices for consumers to stay the same. Here's what FM Sitharaman said

<p>Stocks tumbled Thursday (Mar 27), suffering the worst day since the start of the Iran conflict on February 28. The S&amp;P 500 dropped 1.7 per cent, its worst single day since January, and is now staring down a fifth consecutive losing week. That's the longest such streak in nearly four years, and it stretches back to before the Iran war even started. The Dow shed 469 points. The Nasdaq fell 2.4 per cent, slipping more than 10 per cent below its record high from earlier this year. Markets across Asia and Europe followed suit. On Wall Street, they have a word for that kind of drop: a "correction." Here's what it means.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/photos/on-social-media-platforms-near-you-iran-war-the-movie-playing-now-watch-trump-netanyahu-khamenei-1774422219847"><strong>'Iran War - The Movie': On social media platforms near you, playing now. Watch viral video!</strong></a></p><h2><strong>So what happened?</strong></h2><p>It's been a whiplash kind of week. Monday opened with genuine optimism after US President Donald Trump said talks on ending the war between the US, Israel and Iran were going well. Markets rallied. Then Iran said no direct talks were happening. Tehran rejected a US ceasefire proposal that had been delivered through Pakistan. And just like that, the mood curdled.</p><p>By Thursday, the fighting hadn't stopped. Thousands more US troops were moving toward the region. And Iran, for its part, appeared to be tightening its grip on the Strait of Hormuz, the narrow waterway through which roughly a fifth of the world's oil passes. Reports suggested Tehran may be setting up something resembling a "toll booth" for tankers trying to get through.</p><p>Subsequently, Brent crude jumped 4.8 per cent to settle at $101.89 a barrel. For context, it was around $70 before the war began. US benchmark crude rose 4.6 per cent to $94.48.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/-zero-trust-iran-dumps-witkoff-kushner-as-us-negotiators-gives-ultimatum-to-trump-this-american-must-lead-peace-talks-1774407776585"><strong>'Zero trust': Iran dumps Witkoff, Kushner as US negotiators, gives ultimatum to Trump: THIS American must lead peace talks</strong></a></p><h2><strong>'NO TURNING BACK'</strong></h2><p>Trump, for his part, seems to be in no mood to be diplomatic. On Thursday (Mar 26) morning, he posted on Truth Social, "They better get serious soon, before it is too late," he wrote, warning that once a certain line is crossed, there's "NO TURNING BACK, and it won’t be pretty!."</p>

<p>Then, minutes after markets closed, he softened. He said he was pushing back his threat to "obliterate" Iranian power plants to April 6, allowing more time for talks he insists are "going very well," despite what he called "erroneous statements" from the "Fake News Media". Following this, oil prices dipped slightly, with Treasury yields also pulling back a little.</p>

<h2><strong>How important are Treasury yields?</strong></h2><p>Notably, the yield on the 10-year Treasury had surged to 4.43 per cent during the day, up from 3.97 per cent before the war. Higher yields mean higher mortgage rates, pricier loans, and slower economic growth.</p><p>Tech took the worst of it on Thursday. Meta fell 8 per cent. Alphabet dropped 3.4 per cent per cent. Both had just survived a landmark social media addiction verdict the day before. NVIDIA lost 4.2 per cent. Amazon dropped 2 per cent. Apple, somehow, edged up 0.1 per cent.</p><p>The S&amp;P 500 closed at 6,477 — down 7.2 per cent from its all-time high. The Dow closed at 45,960 — down 469 points on the day. The Nasdaq finished at 21,408, having shed 521 points. Overseas, it wasn't much better. Germany's DAX fell 1.5 per cent. Hong Kong's Hang Seng dropped 1.9 per cent. South Korea's Kospi took the worst of it, sliding 3.2 per cent per cent. Japan's Nikkei 225 was the rare exception — down just 0.3 per cent.<br>&nbsp;</p><p>&nbsp;</p>

Global markets faced a "Black Thursday" reckoning on March 26, suffering their most brutal sell-off since the Iran conflict ignited on February 28.

Stocks tumbled Thursday (Mar 27), suffering the worst day since the start of the Iran conflict on February 28. The S&P 500 dropped 1.7 per cent, its worst single day since January, and is now staring down a fifth consecutive losing week. That's the longest such streak in nearly four years, and it stretches back to before the Iran war even started. The Dow shed 469 points. The Nasdaq fell 2.4 per cent, slipping more than 10 per cent below its record high from earlier this year. Markets across Asia and Europe followed suit. On Wall Street, they have a word for that kind of drop: a "correction." Here's what it means. Also read | 'Iran War - The Movie': On social media platforms near you, playing now. Watch viral video! So what happened? It's been a whiplash kind of week. Monday opened with genuine optimism after US President Donald Trump said talks on ending the war between the US, Israel and Iran were going well. Markets rallied. Then Iran said no direct talks were happening. Tehran rejected a US ceasefire proposal that had been delivered through Pakistan. And just like that, the mood curdled. By Thursday, the fighting hadn't stopped. Thousands more US troops were moving toward the region. And Iran, for its part, appeared to be tightening its grip on the Strait of Hormuz, the narrow waterway through which roughly a fifth of the world's oil passes. Reports suggested Tehran may be setting up something resembling a "toll booth" for tankers trying to get through. Subsequently, Brent crude jumped 4.8 per cent to settle at $101.89 a barrel. For context, it was around $70 before the war began. US benchmark crude rose 4.6 per cent to $94.48. Also read | 'Zero trust': Iran dumps Witkoff, Kushner as US negotiators, gives ultimatum to Trump: THIS American must lead peace talks 'NO TURNING BACK' Trump, for his part, seems to be in no mood to be diplomatic. On Thursday (Mar 26) morning, he posted on Truth Social, "They better get serious soon, before it is too late," he wrote, warning that once a certain line is crossed, there's "NO TURNING BACK, and it won’t be pretty!."

<p>Global markets faced a "Black Thursday" reckoning on March 26, suffering their most brutal sell-off since the Iran conflict ignited on February 28.</p>

Black Thursday? Stocks tumble in worst crash of 2026 as Iran 'toll booth' pushes oil past $100

<p>India's economic growth is likely to reach nearly 6.9 per cent for the 2027 fiscal year, a decrease from the previous forecast of 7.2 per cent. The prediction of a decline in growth rate came as energy supply disruptions began to affect industrial production. An ICICI Bank report indicated that the impact on India's economy will likely remain concentrated in March and April, along with a gradual decline in supply constraints expected in the next few months.</p><p>&nbsp;</p><p>"We expect the impact on the economy to be concentrated in March and April, with gradual easing of supply in the coming months. This should have an impact on growth in Q4FY26 and Q1FY27. Given the impact is limited in the two quarters, we expect FY27 growth at around 6.9% as against 7.2% earlier," the news agency ANI cited ICICI Bank report.</p><p>&nbsp;</p><p>The revised growth estimates came with a significant change in the global energy landscape. "Limited impact on growth is on account of the implicit assumption that oil prices settle around USD 85/bbl. With supply lines improving in the coming weeks in comparison to our earlier scenario of oil prices averaging USD 70/bbl," the report explained.</p><h3>Rising geopolitical tensions affect India's growth path</h3><p>The report said the revision was driven by the immediate impact of rising costs, even as supply chains are expected to stabilise in the near future. Before the recent geopolitical tensions, India’s economy was on a strong growth path, recording a year-on-year expansion of 7.8 per cent in December 2025. Data from January and February also indicated that core economic activity remained resilient.</p><p>&nbsp;</p><p>"However, since the advent of war, the supply of energy products has been impacted, in particular LNG and LPG. Flash manufacturing PMI for March is already showing an impact with the index decelerating to 53.8 from 56.9 in the previous month," the report stated.</p><p>&nbsp;</p><p>However, industrial sectors are now facing the greatest strain from energy shortages. While the government has prioritised LNG and LPG supplies for households, this has led to reduced availability for industries. As a result, production in sectors such as fertiliser, metals, ceramics, restaurants and glass could be affected. The report highlighted a similar pattern in 2022, when high gas prices slowed manufacturing growth to 1.7 per cent in FY23, compared to 10 per cent in the preceding year.</p><p>&nbsp;</p><p><strong>Also read:</strong><a href="https://www.wionews.com/india-news/indian-space-station-development-launch-of-first-module-to-cost-187mn-1774509840923"> Indian Space Station: Development &amp; launch of first module to cost $187mn</a></p>

The report said the revision was driven by the immediate impact of rising costs, even as supply chains are expected to stabilise in the near future. The revised growth estimates came with a significant change in the global energy landscape.

India's economic growth is likely to reach nearly 6.9 per cent for the 2027 fiscal year, a decrease from the previous forecast of 7.2 per cent. The prediction of a decline in growth rate came as energy supply disruptions began to affect industrial production. An ICICI Bank report indicated that the impact on India's economy will likely remain concentrated in March and April, along with a gradual decline in supply constraints expected in the next few months. "We expect the impact on the economy to be concentrated in March and April, with gradual easing of supply in the coming months. This should have an impact on growth in Q4FY26 and Q1FY27. Given the impact is limited in the two quarters, we expect FY27 growth at around 6.9% as against 7.2% earlier," the news agency ANI cited ICICI Bank report. The revised growth estimates came with a significant change in the global energy landscape. "Limited impact on growth is on account of the implicit assumption that oil prices settle around USD 85/bbl. With supply lines improving in the coming weeks in comparison to our earlier scenario of oil prices averaging USD 70/bbl," the report explained. Rising geopolitical tensions affect India's growth path The report said the revision was driven by the immediate impact of rising costs, even as supply chains are expected to stabilise in the near future. Before the recent geopolitical tensions, India’s economy was on a strong growth path, recording a year-on-year expansion of 7.8 per cent in December 2025. Data from January and February also indicated that core economic activity remained resilient. "However, since the advent of war, the supply of energy products has been impacted, in particular LNG and LPG. Flash manufacturing PMI for March is already showing an impact with the index decelerating to 53.8 from 56.9 in the previous month," the report stated. However, industrial sectors are now facing the greatest strain from energy shortages. While the government has prioritised LNG and LPG supplies for households, this has led to reduced availability for industries. As a result, production in sectors such as fertiliser, metals, ceramics, restaurants and glass could be affected. The report highlighted a similar pattern in 2022, when high gas prices slowed manufacturing growth to 1.7 per cent in FY23, compared to 10 per cent in the preceding year. Also read: Indian Space Station: Development & launch of first module to cost $187mn

<p>The report said the revision was driven by the immediate impact of rising costs, even as supply chains are expected to stabilise in the near future. The revised growth estimates came with a significant change in the global energy landscape.</p>

India’s FY27 growth forecast cut to 6.9% as energy crunch hits industry: ICICI Bank report

<p>The US airport security screening staff crisis is dragging on, as lawmakers could not agree on a budget for the Department of Homeland Security, which funds the Transportation Security Administration, responsible for the checks at hundreds of US airports. DHS has been without full funding since 14 February, creating a weeks-long gap that led to many TSA staff quitting or not reporting to work. Amid the Iran war, airports could become vulnerable to targeting by state or non-state actors.&nbsp;</p><h2>Why security screenings by TSA is important for US airports</h2><p>TSA, created after the 9/11 terror attacks, checks every passenger and bag before flights. Its main mandate is to stop attacks on planes and airports, and without checks, a passenger cannot fly.</p><p>But now, Congress gridlock over DHS funding is affecting TSA shortages. Democrats and Republicans are unable to agree on a funding deal for DHS, and by implication, TSA.</p><p>Also read: <a href="https://www.wionews.com/world/what-s-going-on-at-newark-airport-flight-operations-stopped-after-control-tower-evacuation-1774269880676">What’s going on at Newark airport? Flight operations stopped after control tower evacuation</a></p><h2>Funding gridlock over ICE is affecting entire DHS budget</h2><p>The disputes involve immigration enforcement policies and ICE funding. Democrats refuse to approve money for DHS without reforms, while Republicans tie DHS funding to strict immigration rules. Both sides are digging in, even as ICE has now been deployed at some airports. President Donald Trump even threatened to deploy the National Guard at airports.</p><p><a href="https://www.wionews.com/videos/us-deploys-ice-agents-to-14-airports-amid-travel-chaos-wion-1774405765845/embed">https://www.wionews.com/videos/us-deploys-ice-agents-to-14-airports-amid-travel-chaos-wion-1774405765845/embed</a></p><h2>TSA officers are 'essential' to security, but many are working without pay</h2><p>Many TSA officers are staying away, and several of those at airports are working without pay. Since they are classified as “essential”, TSA officers must show up for work, pay or no pay. According to some reports, up to 10 per cent of TSA officers called in sick on a single day.</p><p>More than 360 resigned since the shutdown began. Many of them are missing out on paying rents and face evictions, while others are doing second jobs to pay bills.</p><h2>Screening lines grow at airports; ICE stand‑ins cannot fill gaps</h2><p>Wait times at some airports, including Atlanta and Houston, are up to four hours, as staffing gaps have directly led to slow screening lines.</p><p>Small airports could partially close if screening fails, given that it is mandatory for flying.</p><p>ICE agents are not specifically trained in TSA-level security screening. They cannot operate X-ray machines or interpret explosive detection results. At best, they can check IDs and immigration status of passengers.</p><p>Also read: <a href="https://www.wionews.com/world/aviation-crisis-tsa-unpaid-donald-trump-proposes-ice-takeover-of-airport-security-1774119162561">Aviation crisis: TSA unpaid, Donald Trump proposes ICE takeover of airport security</a></p><h2>American airports are vulnerable to security breaches right now</h2><p>The combination of untrained personnel, lesser-trained screeners from TSA, and fears over ICE agents could expose airports to serious security concerns even as global tensions rise due to the Iran war.</p><p>Intelligence agencies have warned of attempts to target US interests abroad and at home. Airports are very symbolic and practical targets, going by past experience. Any attack could potentially cause mass casualties, disrupt commerce, and shatter public confidence.</p><p>Long lines mean less focus on security, and fewer trained eyes mean a greater risk of dangerous items slipping through. Unpaid workers under stress are more likely to make errors.</p><h2>TSA chief issues warning</h2><p>The acting TSA chief, Ha Nguyen McNeill, told Congress that budget uncertainty will “pose significant challenges” to security operations.</p><p>The political fights in Washington over funding DHS could have dire consequences on the front lines of national security.</p><p>An unfunded DHS and a depleted TSA can expose the homeland of America to threats from enemies who are constantly watching for weaknesses. This risk of airports becoming sitting ducks rises at a time when adversaries have the intent to strike the mainland.</p><p>It is time for US lawmakers to reach a DHS funding deal, or airport security may worsen, as does the risk to American travellers and the nation itself.</p>

US airport security is under strain as TSA staff work without pay amid DHS funding deadlock amid global tensions. Delays, resignations, and ICE stand-ins heighten risks, leaving airports vulnerable to security breaches amid Iran war 

The US airport security screening staff crisis is dragging on, as lawmakers could not agree on a budget for the Department of Homeland Security, which funds the Transportation Security Administration, responsible for the checks at hundreds of US airports. DHS has been without full funding since 14 February, creating a weeks-long gap that led to many TSA staff quitting or not reporting to work. Amid the Iran war, airports could become vulnerable to targeting by state or non-state actors. Why security screenings by TSA is important for US airports TSA, created after the 9/11 terror attacks, checks every passenger and bag before flights. Its main mandate is to stop attacks on planes and airports, and without checks, a passenger cannot fly. But now, Congress gridlock over DHS funding is affecting TSA shortages. Democrats and Republicans are unable to agree on a funding deal for DHS, and by implication, TSA. Also read: What’s going on at Newark airport? Flight operations stopped after control tower evacuation Funding gridlock over ICE is affecting entire DHS budget The disputes involve immigration enforcement policies and ICE funding. Democrats refuse to approve money for DHS without reforms, while Republicans tie DHS funding to strict immigration rules. Both sides are digging in, even as ICE has now been deployed at some airports. President Donald Trump even threatened to deploy the National Guard at airports. https://www.wionews.com/videos/us-deploys-ice-agents-to-14-airports-amid-travel-chaos-wion-1774405765845/embed TSA officers are 'essential' to security, but many are working without pay Many TSA officers are staying away, and several of those at airports are working without pay. Since they are classified as “essential”, TSA officers must show up for work, pay or no pay. According to some reports, up to 10 per cent of TSA officers called in sick on a single day. More than 360 resigned since the shutdown began. Many of them are missing out on paying rents and face evictions, while others are doing second jobs to pay bills. Screening lines grow at airports; ICE stand‑ins cannot fill gaps Wait times at some airports, including Atlanta and Houston, are up to four hours, as staffing gaps have directly led to slow screening lines. Small airports could partially close if screening fails, given that it is mandatory for flying. ICE agents are not specifically trained in TSA-level security screening. They cannot operate X-ray machines or interpret explosive detection results. At best, they can check IDs and immigration status of passengers. Also read: Aviation crisis: TSA unpaid, Donald Trump proposes ICE takeover of airport security American airports are vulnerable to security breaches right now The combination of untrained personnel, lesser-trained screeners from TSA, and fears over ICE agents could expose airports to serious security concerns even as global tensions rise due to the Iran war. Intelligence agencies have warned of attempts to target US interests abroad and at home. Airports are very symbolic and practical targets, going by past experience. Any attack could potentially cause mass casualties, disrupt commerce, and shatter public confidence. Long lines mean less focus on security, and fewer trained eyes mean a greater risk of dangerous items slipping through. Unpaid workers under stress are more likely to make errors. TSA chief issues warning The acting TSA chief, Ha Nguyen McNeill, told Congress that budget uncertainty will “pose significant challenges” to security operations. The political fights in Washington over funding DHS could have dire consequences on the front lines of national security. An unfunded DHS and a depleted TSA can expose the homeland of America to threats from enemies who are constantly watching for weaknesses. This risk of airports becoming sitting ducks rises at a time when adversaries have the intent to strike the mainland. It is time for US lawmakers to reach a DHS funding deal, or airport security may worsen, as does the risk to American travellers and the nation itself.

<p>US airport security is under strain as TSA staff work without pay amid DHS funding deadlock amid global tensions. Delays, resignations, and ICE stand-ins heighten risks, leaving airports vulnerable to security breaches amid Iran war&nbsp;</p>

US airport security chaos couldn’t have come at a worse time as DHS funding politics hits TSA screenings amid Iran war

<p>The Indian alcoholic beverage industry on Wednesday urged state governments to approve price increases of up to 15 per cent. The demand of the two of India's most powerful industry bodies has come amid soaring raw material costs triggered by the ongoing Middle East conflict.</p><p><br>The Confederation of Indian Alcoholic Beverage Companies (CIABC), the supreme body of the alcoholic beverage sector of India, has written to state governments demanding to revise the price for Indian Made Foreign Liquor (IMFL) products. The body is seeking to increase the amount between Rs 100 and Rs 150 per case of 9 litres, based on bottle weight and product segment.</p><p><br>Anant S. Iyer, Director General of CIABC, told the news agency ANI, "We would like a price increase anywhere ranging from 100 rupees to about 150 rupees, depending on the segment of the product that it operates in."<br>&nbsp;</p><p>Meanwhile, the Brewers Association of India (BAI), the top body representing beer giants such as AB InBev, United Breweries (a Heineken company), and Carlsberg, has requested the state governments to increase up to Rs 25-30 per case (12 bottles of 650 ml) in beer prices.</p><p><br>Painting a ferocious picture of the finances of the sector, Vinod Giri, Director General of BAI, said, "Beer companies are in a loss in many states today. They will not survive if the prices are not increased." He also urged both the government and consumers to share the burden, despite putting it completely on the industry.</p><p><br>The trigger for the crisis escalated amid the Middle East conflict that has sent shockwaves through global supply chains, putting the cost of crude oil, energy, packaging materials, and industrial inputs that the beverage industry highly depends on.</p><p><br>With the alcohol and beverage industry contributing nearly Rs 350 lakh crore annually to government revenues, industry leaders say the sector urgently needs policy support. "I hope the government will decide in this regard at some point -- but that must be immediate and now. So we are requesting the state governments to help us," said Giri.</p><h3>Why alcoholic beverage industry demanding a hike in price?</h3><p>The severity of the cost pressures becomes evident from the sharp rise in input prices. Domestic polymer manufacturers, such as BPCL, RIL and IOCL, have been revising prices repeatedly as naphtha costs climb and supplies from the Middle East face disruptions. Polypropylene (PP), used in plastic caps, has increased by Rs 35 per kg, a 36 per cent jump, since late February 2026, including a one-day surge of Rs 12 per kg on March 10.</p><p><br>HDPE, another material used for bottle caps, has gone up by per kg (around 31 per cent), with supplies tightening after imports from Iran were affected by force majeure conditions in the Gulf. PET resin, a key packaging material, has risen by Rs 34.50 per kg, about 40 per cent in just a month, driven by higher crude-linked inputs such as PTA and MEG.</p><p><br>Paperboard costs have also climbed, as freight charges for imported wastepaper from the US and Europe have increased sharply, ranging between $400 and $1,500 per container. Meanwhile, aluminium prices on the LME, used for ROPP bottle caps, have risen 8 per cent to $3,406 per metric tonne since late February, with premiums staying high as shipping routes avoid the Strait of Hormuz.</p><p>&nbsp;</p><p><strong>Also read:</strong> <a href="https://www.wionews.com/world/uk-turkiye-sign-typhoon-training-deal-in-major-8-billion-defence-agreement-uk-turkiye-typhoon-deal-pilot-training-nato-defence-2026-1774445387992">UK-Turkey sign Typhoon training deal in major £8 billion defence agreement</a></p>

The Confederation of Indian Alcoholic Beverage Companies (CIABC), the supreme body of the alcoholic beverage sector of India, has written to state governments demanding to revise the price for Indian Made Foreign Liquor (IMFL) products. 

The Indian alcoholic beverage industry on Wednesday urged state governments to approve price increases of up to 15 per cent. The demand of the two of India's most powerful industry bodies has come amid soaring raw material costs triggered by the ongoing Middle East conflict. The Confederation of Indian Alcoholic Beverage Companies (CIABC), the supreme body of the alcoholic beverage sector of India, has written to state governments demanding to revise the price for Indian Made Foreign Liquor (IMFL) products. The body is seeking to increase the amount between Rs 100 and Rs 150 per case of 9 litres, based on bottle weight and product segment. Anant S. Iyer, Director General of CIABC, told the news agency ANI, "We would like a price increase anywhere ranging from 100 rupees to about 150 rupees, depending on the segment of the product that it operates in." Meanwhile, the Brewers Association of India (BAI), the top body representing beer giants such as AB InBev, United Breweries (a Heineken company), and Carlsberg, has requested the state governments to increase up to Rs 25-30 per case (12 bottles of 650 ml) in beer prices. Painting a ferocious picture of the finances of the sector, Vinod Giri, Director General of BAI, said, "Beer companies are in a loss in many states today. They will not survive if the prices are not increased." He also urged both the government and consumers to share the burden, despite putting it completely on the industry. The trigger for the crisis escalated amid the Middle East conflict that has sent shockwaves through global supply chains, putting the cost of crude oil, energy, packaging materials, and industrial inputs that the beverage industry highly depends on. With the alcohol and beverage industry contributing nearly Rs 350 lakh crore annually to government revenues, industry leaders say the sector urgently needs policy support. "I hope the government will decide in this regard at some point -- but that must be immediate and now. So we are requesting the state governments to help us," said Giri. Why alcoholic beverage industry demanding a hike in price? The severity of the cost pressures becomes evident from the sharp rise in input prices. Domestic polymer manufacturers, such as BPCL, RIL and IOCL, have been revising prices repeatedly as naphtha costs climb and supplies from the Middle East face disruptions. Polypropylene (PP), used in plastic caps, has increased by Rs 35 per kg, a 36 per cent jump, since late February 2026, including a one-day surge of Rs 12 per kg on March 10. HDPE, another material used for bottle caps, has gone up by per kg (around 31 per cent), with supplies tightening after imports from Iran were affected by force majeure conditions in the Gulf. PET resin, a key packaging material, has risen by Rs 34.50 per kg, about 40 per cent in just a month, driven by higher crude-linked inputs such as PTA and MEG. Paperboard costs have also climbed, as freight charges for imported wastepaper from the US and Europe have increased sharply, ranging between $400 and $1,500 per container. Meanwhile, aluminium prices on the LME, used for ROPP bottle caps, have risen 8 per cent to $3,406 per metric tonne since late February, with premiums staying high as shipping routes avoid the Strait of Hormuz. Also read: UK-Turkey sign Typhoon training deal in major £8 billion defence agreement

<p>The Confederation of Indian Alcoholic Beverage Companies (CIABC), the supreme body of the alcoholic beverage sector of India, has written to state governments demanding to revise the price for Indian Made Foreign Liquor (IMFL) products.&nbsp;</p>

Here's why your next beer or whisky could burn hole in your pocket. Deets inside

<p><strong>Iran war impact on ASEAN: </strong>Oil and gas price rises are roiling the economies of Southeast Asian nations, with the Philippines declaring a national energy emergency in a sign of how the global energy crisis caused by Iran war is rippling through ASEAN. Most ASEAN member states are net importers of oil and gas, and the ongoing Iran–Israel–US conflict, alongside the effective closure of the Strait of Hormuz, has triggered sharp spikes in global oil prices, LNG costs, and regional energy markets. Several Southeast Asian governments have rolled out fuel conservation measures, including work-from-home policies, four-day workweeks, and limits on air conditioning and private vehicle use. Fuel subsidies, export curbs, diversification of fuels and suppliers &nbsp;like Russia, and increased use of domestically produced biofuels are also on the cards. Here is a roundup of how Southeast Asia is responding to the fuel crisis.</p><h2>Philippines, worst-hit in ASEAN, declares national energy emergency amid oil price shock</h2><p>A net importer of oil, the Philippines is among the worst hit in Southeast Asia’s energy crisis, with nearly 98 per cent of its crude oil imports sourced from the Gulf region. Significant volumes of LNG imports also come from the same corridor, leaving it highly exposed to disruptions in the Strait of Hormuz. The government declared a national energy emergency on Tuesday (Mar 24), citing “imminent danger” to energy supply. Fuel reserves have dropped to roughly 45 days, while domestic gas prices have doubled since the crisis began. Authorities are boosting coal output, cracking down on hoarding, and considering measures such as flight groundings and four-day workweeks. Economists warn the Philippines faces heightened risks of inflation, energy shortages, and slowdown due to its heavy import dependence.</p><p>Also read: <a href="https://www.wionews.com/world/iran-begins-charging-up-to-2-million-transit-fee-in-strait-of-hormuz-report-1774369725132">Iran begins charging up to $2 million per voyage transit fee in Strait of Hormuz: Report</a></p><h2>Thailand ramps up energy-saving measures as reserves tighten</h2><p>Thailand is one of the hardest-hit ASEAN economies as it depends on imports for nearly 60 per cent of its crude oil demand. More than half of these imports — along with over a quarter of LNG supply — come from the Gulf. With reserves covering only about two months, Thailand has suspended petroleum exports to protect domestic supply. Rising fuel costs are feeding into inflation and posing risks to GDP growth. The government has introduced visible energy-saving campaigns, including encouraging lighter office attire (T-shirts instead of suits), limiting air conditioning to near-ambient temperatures, reducing elevator usage, and promoting carpooling.</p><h2>Singapore: Global refining hub under pressure from supply disruption</h2><p>Singapore, a key global oil refining and trading hub, is 100 per cent dependent on energy imports. Around 70 per cent of its crude oil supply originates from the Gulf, alongside significant diesel and LNG imports. The disruption in global oil supply chains is affecting refining margins, trade flows, and financial activity. As a result, Singapore’s economy is feeling the secondary effects of higher energy prices, even as it maintains stable domestic supply through strategic reserves and diversified sourcing. Conservation measures are being implemented to manage demand.</p><p><a href="https://www.wionews.com/videos/hormuz-risk-could-fast-track-ev-adoption-1774411188193/embed">https://www.wionews.com/videos/hormuz-risk-could-fast-track-ev-adoption-1774411188193/embed</a></p><h2>Vietnam faces low reserves and industrial impact</h2><p>Vietnam imports about 88 per cent of its crude oil from the Gulf and currently holds strategic reserves for less than 20 days — one of the lowest buffers in the region. It is also heavily reliant on LNG imports, with nearly half sourced from the Gulf. The government has activated its fuel price stabilisation fund and is seeking alternative crude supply from partners such as Japan and South Korea. Manufacturing, electricity generation, and industrial output have been hit.</p><p>Also read: <a href="https://www.wionews.com/india-news/indian-lpg-tankers-hormuz-crossing-jag-vasant-pine-gas-1774357064303">Indian LPG tankers Jag Vasant and Pine Gas cross Strait of Hormuz amid Iran conflict disruption</a></p><h2>Energy producers Brunei and Malaysia benefit from higher oil prices</h2><p>Unlike most ASEAN countries, Brunei and Malaysia are net exporters of oil and gas and are comparatively insulated from the current energy crisis. Brunei, producing roughly 84,000 barrels per day, has minimal reliance on imports and is benefiting from higher global oil prices through increased export revenues, with limited domestic disruption.</p><p>Malaysia, while also a net exporter, imports crude oil to balance its refining mix — about 69 per cent of which is from the Gulf. Its strong position in LNG exports provides a buffer, though higher refining costs are being partially passed on to consumers.</p><p>Also read: <a href="https://www.wionews.com/photos/oil-war-and-a-narrow-passage-why-reopening-strait-of-hormuz-is-so-difficult-1774366304252">Oil, war and a narrow passage: Why reopening Strait of Hormuz is so difficult</a></p><h2>Cambodia sees acute fuel shortages and rising transport costs as tuk-tuks line up for gas</h2><p>Cambodia is fully dependent on imported oil and relies heavily on LPG and petrol for transport and household use. The country is experiencing severe fuel shortages, particularly in Phnom Penh, where tuk-tuk drivers are queuing for hours at fuel stations. LPG refill prices have surged by over 50 per cent, directly affecting livelihoods, transport costs, and urban mobility.</p><h2>Indonesia is cushioned by domestic energy production but feels strained</h2><p>Indonesia, Southeast Asia’s largest economy, is less exposed than its neighbours due to domestic gas production and a more diversified energy mix. While it remains a net oil importer — with around one-third of demand met through imports — only about 20 per cent is sourced from the Gulf. Indonesia is also a net exporter of natural gas, providing additional resilience. However, rising global oil prices are putting pressure on government finances, as fuel subsidies increase. Authorities are accelerating the B50 biodiesel programme to reduce reliance on imported crude.</p><h2>Laos, a landlocked importer, faces rising energy costs&nbsp;</h2><p>Laos is entirely dependent on imported oil and gas, largely routed through neighbouring Thailand and regional supply chains linked to the Gulf. This dependence is driving sharp increases in domestic energy prices, adding strain to households and businesses. The government is adopting conservation policies similar to other ASEAN nations to manage demand and reduce pressure on imports.</p><h2>Myanmar grapples with shortages amid political instability</h2><p>Myanmar is facing persistent fuel shortages despite limited domestic production, with the situation worsened by political instability and conflict. Fuel imports — many originating from the Gulf via regional intermediaries — have become inconsistent. Domestic gas supply remains unreliable. The military government has imposed strict fuel rationing and odd-even vehicle usage rules to control consumption.</p><p>&nbsp;</p>

Amid Iran - Israel - US war, Southeast Asia faces a deepening energy crisis as oil prices surge. This moment is exposing ASEAN’s fuel import dependence, triggering shortages at pumps, inflation risks and urgent policy measures

Iran war impact on ASEAN: Oil and gas price rises are roiling the economies of Southeast Asian nations, with the Philippines declaring a national energy emergency in a sign of how the global energy crisis caused by Iran war is rippling through ASEAN. Most ASEAN member states are net importers of oil and gas, and the ongoing Iran–Israel–US conflict, alongside the effective closure of the Strait of Hormuz, has triggered sharp spikes in global oil prices, LNG costs, and regional energy markets. Several Southeast Asian governments have rolled out fuel conservation measures, including work-from-home policies, four-day workweeks, and limits on air conditioning and private vehicle use. Fuel subsidies, export curbs, diversification of fuels and suppliers like Russia, and increased use of domestically produced biofuels are also on the cards. Here is a roundup of how Southeast Asia is responding to the fuel crisis. Philippines, worst-hit in ASEAN, declares national energy emergency amid oil price shock A net importer of oil, the Philippines is among the worst hit in Southeast Asia’s energy crisis, with nearly 98 per cent of its crude oil imports sourced from the Gulf region. Significant volumes of LNG imports also come from the same corridor, leaving it highly exposed to disruptions in the Strait of Hormuz. The government declared a national energy emergency on Tuesday (Mar 24), citing “imminent danger” to energy supply. Fuel reserves have dropped to roughly 45 days, while domestic gas prices have doubled since the crisis began. Authorities are boosting coal output, cracking down on hoarding, and considering measures such as flight groundings and four-day workweeks. Economists warn the Philippines faces heightened risks of inflation, energy shortages, and slowdown due to its heavy import dependence. Also read: Iran begins charging up to $2 million per voyage transit fee in Strait of Hormuz: Report Thailand ramps up energy-saving measures as reserves tighten Thailand is one of the hardest-hit ASEAN economies as it depends on imports for nearly 60 per cent of its crude oil demand. More than half of these imports — along with over a quarter of LNG supply — come from the Gulf. With reserves covering only about two months, Thailand has suspended petroleum exports to protect domestic supply. Rising fuel costs are feeding into inflation and posing risks to GDP growth. The government has introduced visible energy-saving campaigns, including encouraging lighter office attire (T-shirts instead of suits), limiting air conditioning to near-ambient temperatures, reducing elevator usage, and promoting carpooling. Singapore: Global refining hub under pressure from supply disruption Singapore, a key global oil refining and trading hub, is 100 per cent dependent on energy imports. Around 70 per cent of its crude oil supply originates from the Gulf, alongside significant diesel and LNG imports. The disruption in global oil supply chains is affecting refining margins, trade flows, and financial activity. As a result, Singapore’s economy is feeling the secondary effects of higher energy prices, even as it maintains stable domestic supply through strategic reserves and diversified sourcing. Conservation measures are being implemented to manage demand. https://www.wionews.com/videos/hormuz-risk-could-fast-track-ev-adoption-1774411188193/embed Vietnam faces low reserves and industrial impact Vietnam imports about 88 per cent of its crude oil from the Gulf and currently holds strategic reserves for less than 20 days — one of the lowest buffers in the region. It is also heavily reliant on LNG imports, with nearly half sourced from the Gulf. The government has activated its fuel price stabilisation fund and is seeking alternative crude supply from partners such as Japan and South Korea. Manufacturing, electricity generation, and industrial output have been hit. Also read: Indian LPG tankers Jag Vasant and Pine Gas cross Strait of Hormuz amid Iran conflict disruption Energy producers Brunei and Malaysia benefit from higher oil prices Unlike most ASEAN countries, Brunei and Malaysia are net exporters of oil and gas and are comparatively insulated from the current energy crisis. Brunei, producing roughly 84,000 barrels per day, has minimal reliance on imports and is benefiting from higher global oil prices through increased export revenues, with limited domestic disruption. Malaysia, while also a net exporter, imports crude oil to balance its refining mix — about 69 per cent of which is from the Gulf. Its strong position in LNG exports provides a buffer, though higher refining costs are being partially passed on to consumers. Also read: Oil, war and a narrow passage: Why reopening Strait of Hormuz is so difficult Cambodia sees acute fuel shortages and rising transport costs as tuk-tuks line up for gas Cambodia is fully dependent on imported oil and relies heavily on LPG and petrol for transport and household use. The country is experiencing severe fuel shortages, particularly in Phnom Penh, where tuk-tuk drivers are queuing for hours at fuel stations. LPG refill prices have surged by over 50 per cent, directly affecting livelihoods, transport costs, and urban mobility. Indonesia is cushioned by domestic energy production but feels strained Indonesia, Southeast Asia’s largest economy, is less exposed than its neighbours due to domestic gas production and a more diversified energy mix. While it remains a net oil importer — with around one-third of demand met through imports — only about 20 per cent is sourced from the Gulf. Indonesia is also a net exporter of natural gas, providing additional resilience. However, rising global oil prices are putting pressure on government finances, as fuel subsidies increase. Authorities are accelerating the B50 biodiesel programme to reduce reliance on imported crude. Laos, a landlocked importer, faces rising energy costs Laos is entirely dependent on imported oil and gas, largely routed through neighbouring Thailand and regional supply chains linked to the Gulf. This dependence is driving sharp increases in domestic energy prices, adding strain to households and businesses. The government is adopting conservation policies similar to other ASEAN nations to manage demand and reduce pressure on imports. Myanmar grapples with shortages amid political instability Myanmar is facing persistent fuel shortages despite limited domestic production, with the situation worsened by political instability and conflict. Fuel imports — many originating from the Gulf via regional intermediaries — have become inconsistent. Domestic gas supply remains unreliable. The military government has imposed strict fuel rationing and odd-even vehicle usage rules to control consumption.

<p>Amid Iran - Israel - US war, Southeast Asia faces a deepening energy crisis as oil prices surge. This moment is exposing ASEAN’s fuel import dependence, triggering shortages at pumps, inflation risks and urgent policy measures</p>

Emergency in Philippines, tuk-tuks without gas in Cambodia, T-shirts instead of suits in Thailand: Fuel price shocks of Iran war roil ASEAN nations

<p>In a landmark ruling that could redefine the legal liability of social media giants, a New Mexico jury has ordered Meta Platforms to pay $375 million in civil penalties. On Tuesday (Mar 24), after a six-week trial, the jury found that the tech titan violated state consumer protection laws by misleading parents about the safety of Facebook, Instagram, and WhatsApp. The verdict marks the first time a jury has held Meta accountable for claims that its platforms enabled child sexual exploitation and prioritised engagement over teen mental health. While Meta has vowed to appeal, the decision signals a major defeat for the company’s long-standing Section 230 of the Communications Decency Act defence. It sets a high-stakes precedent for thousands of similar lawsuits pending across the United States.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/no-dog-left-behind-7-stolen-pets-trek-17km-in-homeward-bound-escape-from-china-s-meat-market-their-story-is-breaking-the-internet-watch-video-1774330849117"><strong>No dog left behind: Tiny Corgi leads pack of 7 stolen dogs on miraculous 17km journey home — their story is breaking the internet | Watch video</strong></a></p><h2><strong>'Profits Over Kids'</strong></h2><p>A New Mexico jury has ruled that Meta engaged in unfair and deceptive practices and ordered the company to pay $375 million in civil penalties. The case, brought by New Mexico Attorney General Raúl Torrez, accused Meta of misleading users about the safety of Facebook, Instagram, and WhatsApp, while allowing child sexual exploitation to persist on its platforms.</p><p>"This is a historic victory for every child and family who has paid the price for Meta’s choice to put profits over kids’ safety." Torrez said, calling the ruling "a ​clear message to big tech executives that no company is beyond the reach of the law". The jury found 75,000 violations of the state’s consumer protection law, awarding $5,000 for each.</p><h2><strong>What the case revealed</strong></h2><p>At the heart of the lawsuit was an undercover operation carried out by the attorney general’s office in 2023. Investigators created accounts posing as users under the age of 14. According to the state, those accounts were quickly exposed to explicit material and contacted by adults seeking similar content, leading to multiple criminal cases.</p><p>Prosecutors argued that Meta was aware of these risks but failed to act. They pointed to internal documents that, they said, acknowledged problems around sexual exploitation and mental health harm among young users. However, despite that the company, the state says, did not institute basic safety tools such as age verification and insisted its platforms were safe.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/did-patriot-missiles-down-3-american-f-15-jets-over-kuwait-trump-accidentally-reveals-little-mishap-1774396550862"><strong>Did Patriot missiles down 3 American F-15 jets over Kuwait? Trump accidentally reveals 'little mishap'</strong></a></p><p>The state also accused the company of designing features such as infinite scroll and auto-play to foster addictive behaviour and keep users, especially minors, engaged despite potential harm.</p><h2><strong>Meta pushes back</strong></h2><p>Meta has denied the allegations and said it will appeal the verdict. "We respectfully disagree with the verdict and will appeal," a company spokesperson said, adding that Meta has invested heavily in safety tools and continues to work to remove harmful content. "We work hard to keep people safe on our platforms and are clear about the challenges of identifying and removing bad actors or harmful content."</p>

Meta hit with a $375M verdict in a landmark case over child safety on its platforms. A US jury says the company misled parents and enabled harm, shaking its legal shield. What this means for Big Tech? Scroll down to read.

In a landmark ruling that could redefine the legal liability of social media giants, a New Mexico jury has ordered Meta Platforms to pay $375 million in civil penalties. On Tuesday (Mar 24), after a six-week trial, the jury found that the tech titan violated state consumer protection laws by misleading parents about the safety of Facebook, Instagram, and WhatsApp. The verdict marks the first time a jury has held Meta accountable for claims that its platforms enabled child sexual exploitation and prioritised engagement over teen mental health. While Meta has vowed to appeal, the decision signals a major defeat for the company’s long-standing Section 230 of the Communications Decency Act defence. It sets a high-stakes precedent for thousands of similar lawsuits pending across the United States. Also read | No dog left behind: Tiny Corgi leads pack of 7 stolen dogs on miraculous 17km journey home — their story is breaking the internet | Watch video 'Profits Over Kids' A New Mexico jury has ruled that Meta engaged in unfair and deceptive practices and ordered the company to pay $375 million in civil penalties. The case, brought by New Mexico Attorney General Raúl Torrez, accused Meta of misleading users about the safety of Facebook, Instagram, and WhatsApp, while allowing child sexual exploitation to persist on its platforms. "This is a historic victory for every child and family who has paid the price for Meta’s choice to put profits over kids’ safety." Torrez said, calling the ruling "a clear message to big tech executives that no company is beyond the reach of the law". The jury found 75,000 violations of the state’s consumer protection law, awarding $5,000 for each. What the case revealed At the heart of the lawsuit was an undercover operation carried out by the attorney general’s office in 2023. Investigators created accounts posing as users under the age of 14. According to the state, those accounts were quickly exposed to explicit material and contacted by adults seeking similar content, leading to multiple criminal cases. Prosecutors argued that Meta was aware of these risks but failed to act. They pointed to internal documents that, they said, acknowledged problems around sexual exploitation and mental health harm among young users. However, despite that the company, the state says, did not institute basic safety tools such as age verification and insisted its platforms were safe. Also read | Did Patriot missiles down 3 American F-15 jets over Kuwait? Trump accidentally reveals 'little mishap' The state also accused the company of designing features such as infinite scroll and auto-play to foster addictive behaviour and keep users, especially minors, engaged despite potential harm. Meta pushes back Meta has denied the allegations and said it will appeal the verdict. "We respectfully disagree with the verdict and will appeal," a company spokesperson said, adding that Meta has invested heavily in safety tools and continues to work to remove harmful content. "We work hard to keep people safe on our platforms and are clear about the challenges of identifying and removing bad actors or harmful content."

<p>Meta hit with a $375M verdict in a landmark case over child safety on its platforms. A US jury says the company misled parents and enabled harm, shaking its legal shield. What does this mean for Big Tech? Scroll down to read.</p>

'Profits over kids' safety': New Mexico slaps $375m penalty on Meta for enabling child exploitation on Facebook & Instagram

<p>The war in West Asia has sparked fears of recession in Europe as business activity in the Eurozone slowed in March following the start of the conflict on February 28, leading to a surge in energy prices and causing significant supply chain disruptions, according to a survey published on Tuesday (March 24).</p><p>&nbsp;</p><p>The HCOB Flash Eurozone Purchasing Managers' Index (PMI), published by S&amp;P Global, an important gauge of the overall health of the economy, registered a significantly lower figure of 50.5 this month, down from 51.9 in February.</p><p>&nbsp;</p><p>A reading above 50 indicates growth, while a figure below 50 shows contraction.</p><p>&nbsp;</p><p>Iran has effectively closed the Strait of Hormuz in retaliation against the United States and Israel, through which nearly 20 per cent of global oil transits. Brent crude is oscillating between $101 and $104 per barrel, putting immediate pressure on input costs for European firms and forcing several countries to take emergency measures such as rationing and prioritising gas.</p><p>&nbsp;</p><p>The 21-country Eurozone bloc, which includes Germany, France and Austria, has come under a “double shock”, with the West Asia conflict and the protracted war in Ukraine creating a period of stagflationary pressure.</p><p>&nbsp;</p><p>On Monday, Donald Trump announced in a social media post a five-day postponement of all planned military strikes against Iranian power plants and energy infrastructure. The pause is intended to provide a window for ongoing diplomatic talks aimed at reaching a “complete and total resolution” of hostilities in the region.</p><p>&nbsp;</p><p><strong>Also Read: </strong><a href="https://www.wionews.com/india-news/-blocking-strait-of-hormuz-is-unacceptable-pm-modi-notes-india-made-pathways-through-dialogue-1774341188579"><strong>PM Modi rejects Hormuz blockade; reveals secret diplomatic pathway for Indian ships</strong></a></p><p>&nbsp;</p><p>Notably, the US President underlined that the instruction to the Department of Defence is contingent upon the continued success of these detailed and constructive meetings, which are scheduled to continue throughout the week.</p><p>&nbsp;</p><p>However, Iran officially dismissed Donald Trump’s assertion that the two countries are engaged in “very good and productive” conversations to resolve the war.</p><p>&nbsp;</p><p>The pause comes after 24 days of intense fighting, which began on February 28 following a joint US-Israeli bombing campaign that targeted top Iranian leadership, including the killing of Supreme Leader Ayatollah Ali Khamenei and senior security chief Ali Larijani, along with several high-ranking military commanders.</p><p>&nbsp;</p><p>Despite the US and Israel targeting its leadership and critical infrastructure, Iran remains defiant. The country has adopted a tit-for-tat strategy, attacking oil and energy facilities across Gulf nations and surprising the US by targeting the Diego Garcia military base, around 4,000 km from Iran. This demonstrated Tehran’s missile capabilities, which the US had previously claimed were significantly reduced in its strikes.</p>

The 21-country Eurozone bloc, which includes Germany, France and Austria, has come under a “double shock”, with the West Asia conflict and the protracted war in Ukraine creating a period of stagflationary pressure.

The war in West Asia has sparked fears of recession in Europe as business activity in the Eurozone slowed in March following the start of the conflict on February 28, leading to a surge in energy prices and causing significant supply chain disruptions, according to a survey published on Tuesday (March 24). The HCOB Flash Eurozone Purchasing Managers' Index (PMI), published by S&P Global, an important gauge of the overall health of the economy, registered a significantly lower figure of 50.5 this month, down from 51.9 in February. A reading above 50 indicates growth, while a figure below 50 shows contraction. Iran has effectively closed the Strait of Hormuz in retaliation against the United States and Israel, through which nearly 20 per cent of global oil transits. Brent crude is oscillating between $101 and $104 per barrel, putting immediate pressure on input costs for European firms and forcing several countries to take emergency measures such as rationing and prioritising gas. The 21-country Eurozone bloc, which includes Germany, France and Austria, has come under a “double shock”, with the West Asia conflict and the protracted war in Ukraine creating a period of stagflationary pressure. On Monday, Donald Trump announced in a social media post a five-day postponement of all planned military strikes against Iranian power plants and energy infrastructure. The pause is intended to provide a window for ongoing diplomatic talks aimed at reaching a “complete and total resolution” of hostilities in the region. Also Read: PM Modi rejects Hormuz blockade; reveals secret diplomatic pathway for Indian ships Notably, the US President underlined that the instruction to the Department of Defence is contingent upon the continued success of these detailed and constructive meetings, which are scheduled to continue throughout the week. However, Iran officially dismissed Donald Trump’s assertion that the two countries are engaged in “very good and productive” conversations to resolve the war. The pause comes after 24 days of intense fighting, which began on February 28 following a joint US-Israeli bombing campaign that targeted top Iranian leadership, including the killing of Supreme Leader Ayatollah Ali Khamenei and senior security chief Ali Larijani, along with several high-ranking military commanders. Despite the US and Israel targeting its leadership and critical infrastructure, Iran remains defiant. The country has adopted a tit-for-tat strategy, attacking oil and energy facilities across Gulf nations and surprising the US by targeting the Diego Garcia military base, around 4,000 km from Iran. This demonstrated Tehran’s missile capabilities, which the US had previously claimed were significantly reduced in its strikes.

<p>The 21-country Eurozone bloc, which includes Germany, France and Austria, has come under a “double shock”, with the West Asia conflict and the protracted war in Ukraine creating a period of stagflationary pressure.</p>

Recession fears in Europe as Eurozone business activity slows amid Iran war

<p><strong>Is the Iran war over? </strong>There are many conflicting reports on the status of the ongoing US–Israel–Iran conflict, hours after US President Donald Trump on Monday &nbsp;(Mar 23) announced a five-day pause on attacks on Iranian energy and power infrastructure. There is widespread scepticism about the war ending any time soon, as attacks and counterattacks continue, and little has changed regarding the Strait of Hormuz blockade. Here are eight reasons the war is far from over:</p><h2>1. US Marines continue to reach CENTCOM for Middle East deployment</h2><p>Reports indicate that thousands of additional US Marines, including from the 31st Marine Expeditionary Unit aboard amphibious ships such as USS Tripoli, are continuing to deploy or arrive in the US Central Command (CENTCOM) area of responsibility. The build-up was ordered before Trump announced the pause, but its objectives include securing the Strait of Hormuz, ensuring maritime security, supporting evacuations, and potentially conducting limited ground missions to protect shipping lanes or strategic islands. This sustained mobilisation signals that Washington is preparing for escalation scenarios in the near future.</p><h2>2. Iran, US and Israel continue air strikes and missile attacks</h2><p>Reports following Trump's pause announcement indicate that Israel has carried out airstrikes on Tehran and other Iranian targets, including weapons sites and power infrastructure. Strikes by the US and Israel have reportedly targeted a natural gas pipeline linked to a power plant in Khorramshahr. Power outages were recorded in Tehran after the strikes. Iran, meanwhile, continued launching missiles and drones at Israel, hitting both southern and northern regions. Israeli Prime Minister Benjamin Netanyahu has publicly vowed to “keep striking” Iran and Hezbollah positions in Lebanon.</p><p>Also read: <a href="https://www.wionews.com/world/gulf-countries-iran-conflict-saudi-uae-us-bases-hormuz-tensions-1774328297752">Saudi Arabia, UAE to join Iran war as ceasefire claims remain disputed</a></p><h2>3. Strait of Hormuz situation remains unchanged</h2><p>There is no indication that maritime traffic has normalised in the Strait of Hormuz, through some 20 per cent of the world’s oil supply passes. Shipping activity remains sharply reduced, with heightened risks for commercial vessels. At the time of writing, there is no clear pathway to reopening or stabilising this vital route, keeping global energy markets on edge.</p><h2>4. No confirmation from Iran on negotiations or talks, as Arab nations remain sceptical</h2><p>The Wall Street Journal reported that Arab mediators privately doubt that the US and Iran can reach a near-term agreement, citing deep strategic gaps between the two sides. Iranian officials, including representatives from the foreign ministry and parliament, denied any direct negotiations with Washington. They have dismissed Trump’s claims as “fake news” aimed at influencing oil markets and geopolitical narratives. Regional diplomatic channels appear active but inconclusive, with no verifiable breakthrough.</p><h2>5. Brent crude oil prices remain volatile and above $100 per barrel</h2><p>The sustained volatility in Brent crude oil prices—frequently crossing the $100 per barrel mark—reflects persistent uncertainty in global energy markets. Traders are reacting not only to physical supply risks but also to geopolitical signalling, including military deployments and unresolved tensions. The price movements suggest that markets do not yet believe the conflict is nearing resolution.</p><p>Also read: <a href="https://www.wionews.com/photos/mojtaba-khamenei-advisor-says-war-will-continue-despite-trump-netanyahu-5-day-halt-how-iran-has-reacted-so-far-1774322779656">Khamenei's advisor says ‘war will continue’ despite Trump's '5-day halt' announcement — How Iran has reacted so far</a></p><h2>6. Only speculative reporting on diplomatic negotiations</h2><p>There are multiple, often conflicting, reports about backchannel diplomacy. Some US media outlets suggest that countries such as Pakistan, Turkey and Egypt are facilitating indirect communication between Washington and Tehran. There have also been unverified claims regarding potential high-level meetings and leadership-level outreach. Regional broadcasters like Al Arabiya have cited anonymous sources suggesting possible willingness to negotiate from Iranian supreme leader. However, none of these developments have been officially confirmed, limiting their credibility.</p><h2>7. Gulf states reassessing their strategic posture</h2><p>Reports suggest that Saudi Arabia and the United Arab Emirates may be recalibrating their positions in response to rising Iranian threats. Concerns over attacks on oil infrastructure and warnings from Iran regarding desalination plants and power facilities &nbsp;heightened regional security anxieties. While no formal entry into the conflict has been announced, even a limited shift in Gulf involvement could significantly widen the scope of the war.</p><p><a href="https://www.wionews.com/videos/israel-iran-war-israel-s-missile-defence-system-under-scrutiny-after-iranian-attack-1774337391652/embed">https://www.wionews.com/videos/israel-iran-war-israel-s-missile-defence-system-under-scrutiny-after-iranian-attack-1774337391652/embed</a></p><h2>8. Core geopolitical issues remain unresolved</h2><p>Fundamental drivers of the conflict remain unaddressed. These include the future of Iran’s nuclear programme, regional power balance in the Middle East, sanctions, Irianian demand for reparations, and the security of key waterways such as the Strait of Hormuz. Questions around regime change and stability within Iran continue to be unsolved.</p><p>Also read: <a href="https://www.wionews.com/world/iran-sets-these-conditions-to-end-israel-us-war-after-trump-s-5-day-halt-closure-of-us-bases-to-hormuz-control-1774326659739">Iran sets THESE conditions to end war after Trump's 5-day halt: From closure of US bases to Hormuz control - Full list</a></p><h2>Perspective: It is not over till...but who will have to sing to end the Iran - US - Israel war?</h2><p>In summary, the US–Israel–Iran conflict has not ended. Despite the announcement of a temporary pause, ongoing military operations, unresolved disputes, disruption of energy markets, and the absence of verified diplomatic progress point towards an uneasy calm at best, and a highly volatile situation that could lead to another flare-up, at worst. Trump's five-day pause appears to be a tactical move rather than a definitive step towards peace, with the risk of further escalation still firmly present.<br>&nbsp;</p>

Despite Trump's temporary pause announcement, the Iran war tensions remain high with ongoing strikes and military build-ups. The disruption of Strait of Hormuz oil routes is not over, signalling continued instability and no clear path to de-escalation. Why it's not over till it's over

Is the Iran war over? There are many conflicting reports on the status of the ongoing US–Israel–Iran conflict, hours after US President Donald Trump on Monday (Mar 23) announced a five-day pause on attacks on Iranian energy and power infrastructure. There is widespread scepticism about the war ending any time soon, as attacks and counterattacks continue, and little has changed regarding the Strait of Hormuz blockade. Here are eight reasons the war is far from over: 1. US Marines continue to reach CENTCOM for Middle East deployment Reports indicate that thousands of additional US Marines, including from the 31st Marine Expeditionary Unit aboard amphibious ships such as USS Tripoli, are continuing to deploy or arrive in the US Central Command (CENTCOM) area of responsibility. The build-up was ordered before Trump announced the pause, but its objectives include securing the Strait of Hormuz, ensuring maritime security, supporting evacuations, and potentially conducting limited ground missions to protect shipping lanes or strategic islands. This sustained mobilisation signals that Washington is preparing for escalation scenarios in the near future. 2. Iran, US and Israel continue air strikes and missile attacks Reports following Trump's pause announcement indicate that Israel has carried out airstrikes on Tehran and other Iranian targets, including weapons sites and power infrastructure. Strikes by the US and Israel have reportedly targeted a natural gas pipeline linked to a power plant in Khorramshahr. Power outages were recorded in Tehran after the strikes. Iran, meanwhile, continued launching missiles and drones at Israel, hitting both southern and northern regions. Israeli Prime Minister Benjamin Netanyahu has publicly vowed to “keep striking” Iran and Hezbollah positions in Lebanon. Also read: Saudi Arabia, UAE to join Iran war as ceasefire claims remain disputed 3. Strait of Hormuz situation remains unchanged There is no indication that maritime traffic has normalised in the Strait of Hormuz, through some 20 per cent of the world’s oil supply passes. Shipping activity remains sharply reduced, with heightened risks for commercial vessels. At the time of writing, there is no clear pathway to reopening or stabilising this vital route, keeping global energy markets on edge. 4. No confirmation from Iran on negotiations or talks, as Arab nations remain sceptical The Wall Street Journal reported that Arab mediators privately doubt that the US and Iran can reach a near-term agreement, citing deep strategic gaps between the two sides. Iranian officials, including representatives from the foreign ministry and parliament, denied any direct negotiations with Washington. They have dismissed Trump’s claims as “fake news” aimed at influencing oil markets and geopolitical narratives. Regional diplomatic channels appear active but inconclusive, with no verifiable breakthrough. 5. Brent crude oil prices remain volatile and above $100 per barrel The sustained volatility in Brent crude oil prices—frequently crossing the $100 per barrel mark—reflects persistent uncertainty in global energy markets. Traders are reacting not only to physical supply risks but also to geopolitical signalling, including military deployments and unresolved tensions. The price movements suggest that markets do not yet believe the conflict is nearing resolution. Also read: Khamenei's advisor says ‘war will continue’ despite Trump's '5-day halt' announcement — How Iran has reacted so far 6. Only speculative reporting on diplomatic negotiations There are multiple, often conflicting, reports about backchannel diplomacy. Some US media outlets suggest that countries such as Pakistan, Turkey and Egypt are facilitating indirect communication between Washington and Tehran. There have also been unverified claims regarding potential high-level meetings and leadership-level outreach. Regional broadcasters like Al Arabiya have cited anonymous sources suggesting possible willingness to negotiate from Iranian supreme leader. However, none of these developments have been officially confirmed, limiting their credibility. 7. Gulf states reassessing their strategic posture Reports suggest that Saudi Arabia and the United Arab Emirates may be recalibrating their positions in response to rising Iranian threats. Concerns over attacks on oil infrastructure and warnings from Iran regarding desalination plants and power facilities heightened regional security anxieties. While no formal entry into the conflict has been announced, even a limited shift in Gulf involvement could significantly widen the scope of the war. https://www.wionews.com/videos/israel-iran-war-israel-s-missile-defence-system-under-scrutiny-after-iranian-attack-1774337391652/embed 8. Core geopolitical issues remain unresolved Fundamental drivers of the conflict remain unaddressed. These include the future of Iran’s nuclear programme, regional power balance in the Middle East, sanctions, Irianian demand for reparations, and the security of key waterways such as the Strait of Hormuz. Questions around regime change and stability within Iran continue to be unsolved. Also read: Iran sets THESE conditions to end war after Trump's 5-day halt: From closure of US bases to Hormuz control - Full list Perspective: It is not over till...but who will have to sing to end the Iran - US - Israel war? In summary, the US–Israel–Iran conflict has not ended. Despite the announcement of a temporary pause, ongoing military operations, unresolved disputes, disruption of energy markets, and the absence of verified diplomatic progress point towards an uneasy calm at best, and a highly volatile situation that could lead to another flare-up, at worst. Trump's five-day pause appears to be a tactical move rather than a definitive step towards peace, with the risk of further escalation still firmly present.

<p>Despite Trump's temporary pause announcement, the Iran war tensions remain high with ongoing strikes and military build-ups. The disruption of Strait of Hormuz oil routes is not over, signalling continued instability and no clear path to de-escalation. Why it's not over till it's over</p>

Fog of war: Eight signs that Iran-US-Israel conflict is not over despite Trump's five-day pause announcement

<p>The registration process of H-1B visa for FY27 experienced a sharp decline, falling between 30 per cent and 50 per cent lower than last year, according to immigration attorneys. The registration process, which was closed on March 19, indicates growing caution among employers due to the higher visa fees and changes to the lottery system, which also now gives preference to higher wages earlier models fell short.</p><p><br>The decline has affected major IT outsourcing firms and startups. However, experts stated that the revised rules are creating opportunities for Mid-tier IT companies that are ready to pay higher salaries for specialised talent, according to a report by The Economic Times.</p><p><br>They also benefit smaller firms that previously struggled due to bulk applications from large outsourcing companies, as well as US master’s degree holders, who now have a stronger edge under the wage-based selection system.</p><p><br>“Previously, these companies were often discouraged by the diluted odds created by large outsourcing firms. Now that the playing field is level, they feel they have a legitimate, fair shot at securing talent," said Shilpa Malik, managing attorney at VisaNation Law Group.</p><p><br>Additionally, immigration experts noted that employers are increasingly focusing on offering higher wages to maximise selection chances. The development marks a shift from the past years, when companies often submitted large volumes of applications without prioritising salary levels. For FY26, the US Citizenship and Immigration Services (USCIS) received 336,153 eligible registrations.</p><h3>What does this declining H-1B visa registration mean for industry?</h3><p>The revised system marks a significant shift in H-1B hiring patterns. First, is that the large outsourcing firms may see a decline in their dominance in the lottery process. The second indicates that the mid-sized IT companies could gain an advantage by focusing on high-skilled, higher-paid talent. And the third is that the graduates in the US with advanced degrees are likely to benefit the most under the new structure.</p><p><br>For many employers, this shift reflects both the increasing cost of H-1B applications, estimated at around $100,000 for new filings, and the need to adjust to a more selective system that prioritises higher wages.</p><p>&nbsp;</p><p><strong>Also read</strong>: <a href="https://www.wionews.com/photos/mohammad-bagher-ghalibaf-tehran-mayor-police-chief-and-presidential-hopeful-trump-top-person-negotiator-from-iran-irgc-commander-parliament-speaker-1774328837061/1774328837062">Tehran mayor, police chief and presidential hopeful: Who is Mohammad-Bagher Ghalibaf, man linked to Trump's Iran negotiator claim</a></p><p><br>&nbsp;</p>

The decline in the registration process of the H-1B visa has affected major IT outsourcing firms and startups. However, experts stated that the revised rules are creating opportunities for Mid-tier IT companies that are ready to pay higher salaries for specialised talent.

The registration process of H-1B visa for FY27 experienced a sharp decline, falling between 30 per cent and 50 per cent lower than last year, according to immigration attorneys. The registration process, which was closed on March 19, indicates growing caution among employers due to the higher visa fees and changes to the lottery system, which also now gives preference to higher wages earlier models fell short. The decline has affected major IT outsourcing firms and startups. However, experts stated that the revised rules are creating opportunities for Mid-tier IT companies that are ready to pay higher salaries for specialised talent, according to a report by The Economic Times. They also benefit smaller firms that previously struggled due to bulk applications from large outsourcing companies, as well as US master’s degree holders, who now have a stronger edge under the wage-based selection system. “Previously, these companies were often discouraged by the diluted odds created by large outsourcing firms. Now that the playing field is level, they feel they have a legitimate, fair shot at securing talent," said Shilpa Malik, managing attorney at VisaNation Law Group. Additionally, immigration experts noted that employers are increasingly focusing on offering higher wages to maximise selection chances. The development marks a shift from the past years, when companies often submitted large volumes of applications without prioritising salary levels. For FY26, the US Citizenship and Immigration Services (USCIS) received 336,153 eligible registrations. What does this declining H-1B visa registration mean for industry? The revised system marks a significant shift in H-1B hiring patterns. First, is that the large outsourcing firms may see a decline in their dominance in the lottery process. The second indicates that the mid-sized IT companies could gain an advantage by focusing on high-skilled, higher-paid talent. And the third is that the graduates in the US with advanced degrees are likely to benefit the most under the new structure. For many employers, this shift reflects both the increasing cost of H-1B applications, estimated at around $100,000 for new filings, and the need to adjust to a more selective system that prioritises higher wages. Also read: Tehran mayor, police chief and presidential hopeful: Who is Mohammad-Bagher Ghalibaf, man linked to Trump's Iran negotiator claim

<p>The decline in the registration process of the H-1B visa has affected major IT outsourcing firms and startups. However, experts stated that the revised rules are creating opportunities for Mid-tier IT companies that are ready to pay higher salaries for specialised talent.</p>

US H-1B visa registration drops 30–50% after new rules: What does it mean for industry?

<p>A massive explosion at the Valero Port Arthur Refinery sent shockwaves through the US energy sector on Monday (Mar 23). As the nation grapples with an oil spike due to the West Asia war, one of America's largest fuel hubs—capable of processing 435,000 barrels per day—is now under emergency lockdown. Local authorities have ordered residents in the surrounding area to stay indoors as thick black smoke billows over East Texas. The blast threatens to knock 435,000 barrels of refining capacity offline at a moment when US President Donald Trump is attempting to negotiate with Tehran amid the Iran war. It comes as Brent crude went up 3.7 per cent to $103.60 per barrel as the Strait of Hormuz remains under an effective 90 per cent blockade by the IRGC—wiping out 8 million barrels of daily global supply.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/photos/us-s-oil-gambit-how-trump-is-using-iranian-crude-to-bankrupt-tehran-amid-strait-of-hormuz-blockade-in-pics-1774056598032"><strong>US's oil gambit: How Trump is using Iranian crude to bankrupt Tehran amid Strait of Hormuz blockade | In Pics</strong></a></p><h2><strong>Shelter-in-place alert issued</strong></h2><p>The explosion occurred at Valero’s Port Arthur Refinery, located roughly 90 miles east of Houston. Local emergency management officials issued a shelter-in-place alert shortly after the blast, urging people in nearby areas to remain inside as a precaution.</p><p>"To ensure the safety of all residents in the vicinity and in light of the recent explosion at the Valero refinery, an immediate shelter in place is ordered," officials said in a public alert. The advisory covered a wide area around the refinery. Visuals from the scene show tall flames and a plume of black smoke rising from the refinery. Watch here:</p>

<blockquote class="twitter-tweet" data-media-max-width="560"><p lang="en" dir="ltr">🚨 BREAKING: Massive explosion at Valero’s Port Arthur refinery.<br><br>One of the largest in the U.S. (335,000+ barrels/day).<br><br>Black smoke. Active fire. Cause unknown.<br><br>All happening as global oil supply is already under pressure from the Iran war — with major disruptions hitting… <a href="https://t.co/NU7VmLci6t">pic.twitter.com/NU7VmLci6t</a></p>&mdash; Brian Allen (@allenanalysis) <a href="https://twitter.com/allenanalysis/status/2036244596900909227?ref_src=twsrc%5Etfw">March 24, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>Valero confirmed that a fire had broken out in one of the refinery’s processing units. "Currently, there is a fire in a unit at Valero's Port Arthur, Texas refinery. All personnel have been accounted for," the company said in a statement, adding that worker safety remains its top priority.</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/mission-accomplished-trump-reveals-5-iran-war-goals-announces-surprise-exit-strategy-as-us-nears-victory-what-are-they-and-is-the-war-ending-soon-1774045708559"><strong>Trump announces surprise exit strategy, reveals 5 Iran war goals US 'very close to meeting' — what are they, and is the war ending soon?</strong></a></p><h2><strong>Death toll of Texas oil refinery explosion</strong></h2><p>At the time of this report's publication, there were no official statements on any deaths or injuries. Local media footage showed large flames rising from the site, accompanied by thick black smoke billowing into the sky. Residents in nearby neighbourhoods reported hearing a loud explosion that shook windows and buildings.</p><p>The cause of the blast has not yet been determined, and authorities have not said how long the shelter-in-place order will remain in effect.</p><h2><strong>How important is the Port Arthur refinery?</strong></h2><p>The Texas-based Port Arthur refinery is one of the largest in the United States. According to Valero, the facility processes "heavy sour crude oil and other feedstocks into gasoline, diesel and jet fuel". It has a capacity of about 435,000 barrels per day and employs nearly 800 workers.</p>

Explosion rocks one of America’s largest oil refineries - Valero Port Arthur Refinery, as global prices surge amid the Iran war. With 435,000 barrels at risk and black smoke over Texas, fears of a supply shock grow. What does this mean for energy markets? Scroll down.

A massive explosion at the Valero Port Arthur Refinery sent shockwaves through the US energy sector on Monday (Mar 23). As the nation grapples with an oil spike due to the West Asia war, one of America's largest fuel hubs—capable of processing 435,000 barrels per day—is now under emergency lockdown. Local authorities have ordered residents in the surrounding area to stay indoors as thick black smoke billows over East Texas. The blast threatens to knock 435,000 barrels of refining capacity offline at a moment when US President Donald Trump is attempting to negotiate with Tehran amid the Iran war. It comes as Brent crude went up 3.7 per cent to $103.60 per barrel as the Strait of Hormuz remains under an effective 90 per cent blockade by the IRGC—wiping out 8 million barrels of daily global supply. Also read | US's oil gambit: How Trump is using Iranian crude to bankrupt Tehran amid Strait of Hormuz blockade | In Pics Shelter-in-place alert issued The explosion occurred at Valero’s Port Arthur Refinery, located roughly 90 miles east of Houston. Local emergency management officials issued a shelter-in-place alert shortly after the blast, urging people in nearby areas to remain inside as a precaution. "To ensure the safety of all residents in the vicinity and in light of the recent explosion at the Valero refinery, an immediate shelter in place is ordered," officials said in a public alert. The advisory covered a wide area around the refinery. Visuals from the scene show tall flames and a plume of black smoke rising from the refinery. Watch here:

<p>Explosion rocks one of America’s largest oil refineries - Valero Port Arthur Refinery, as global prices surge amid the Iran war. With 435,000 barrels at risk and black smoke over Texas, fears of a supply shock grow. What does this mean for energy markets? Scroll down.</p>

Massive blast rocks Valero’s Port Arthur refinery amid Iran blockade of Strait of Hormuz—is the US energy hub under attack?